AIIB has several Special Funds that serve different purposes, including identification and preparation of high-quality bankable projects, capacity building, information sharing and making AIIB loans more affordable through interest buydown grants.

Established in June 2016, AIIB’s Project Preparation Special Fund (PPSF) is a multi-donor facility created to provide technical assistance grants to support the preparation of high-quality bankable projects for AIIB Members, especially less developed Members. Project preparation activities supported by these grants are critical to improve project quality and ensure economic, environmental and social sustainability and implementation readiness.

The Special Fund Window for Less Developed Members (SFW) provides interest rate buydown for eligible sovereign-backed financing projects to make AIIB financing more affordable for its less developed Members.

The Project Specific Window (PSW) is a special fund that allows AIIB to accept, manage, and disburse grant co-financings on behalf of contributors into eligible AIIB projects.

The Global Infrastructure Facility Special Fund was established to administer grants received by AIIB as a Technical Partner of the Global Infrastructure Facility (GIF). The GIF is a global collaboration platform that supports the preparation, structuring, and de-risking of high-quality, bankable, sustainable infrastructure programs and projects in emerging markets that are attractive to private capital. The GIF Special Fund can support project readiness, project definition and project preparation activities to promote private capital mobilization.

The Pandemic Fund Special Fund was established to administer grants received by AIIB as Implementing Entity of the Pandemic Fund. The Fund is the first multilateral financing mechanism dedicated to providing multiyear grants to help low- and middle-income countries become better prepared for future pandemics. It was established in September 2022, and formally launched under Indonesia’s G20 Presidency at the G20 meetings in Bali, Indonesia November 2021. The Fund, which is hosted by the World Bank, has already raised USD2 billion in seed capital from 25 sovereign and philanthropic contributors. Grants from the Pandemic Fund catalyze co-financing for projects from public and private sources, and technical expertise from the World Health Organization and other partners.

The Multilateral Cooperation Center for Development Finance (MCDF) Special Fund was established to administer grants received by AIIB as Implementing Partner of the Finance Facility of the MCDF. The MCDF is a multilateral financial mechanism designed to promote high-quality infrastructure and connectivity investments in developing countries in compliance with IFI standards, including by encouraging other investors and financial institutions to adopt such standards. The MCDF Special Fund can support project preparation, capacity building, and information sharing activities that align with both AIIB’s strategic priorities and MCDF’s objectives.