Global investors have backed Asian Infrastructure Investment Bank (AIIB) to raise $2.5bn (€2.23bn) via bonds for infrastructure investment.

The development bank said the debut global bond attracted orders from over 90 investors across the globe representing 27 countries.

The five-year bond was backed by central banks, fund manager, insurers and pension schemes, AIIB said.

AIIB said the amount raised will be used for sustainable infrastructure investing, developing cross-border connectivity, and promoting environmental, social and governance (ESG) investing in emerging Asia.

Thierry de Longuemar, AIIB’s CFO said: “This bond is reflective of investor demand globally for high-quality sustainable investments. AIIB’s outlook has always been global with founding members from Asia, Africa, South America and Europe.

“We were delighted to see demand from such a diversified group of investors in the book and look forward to showing our global investor base the positive contribution that this capital will have in Asia and beyond.”

AIIB president Jin Liqun said the growing institutional demand for fiscally sustainable, revenue-positive projects and support for AIIB’s unique operating model is evidenced by the almost $8bn of financings already approved by the bank.

“By participating in capital markets, we can harness further financial support from a global investor base, which will enable us to catalyze infrastructure investment and accelerate adoption of ESG investing principles in emerging Asia.”