AIIB halts Russia lending

In the context of the present situation in Ukraine, the Asian Infrastructure Investment Bank (AIIB) said on Thursday (Mar 3) that all initiatives linked to Russia and Belarus have been put on hold and are being reviewed.

In a statement, the Beijing-based AIIB said that, in light of the changing economic and financial scenario, its management would do all possible to protect the bank’s financial integrity.

“Under these circumstances, and in the best interests of the Bank, Management has decided that all activities relating to Russia and Belarus are on hold and under review.”

China is the development bank’s largest shareholder, with 26.5 percent of the voting power.