SAMARKAND, Uzbekistan, September 25. The Asian Infrastructure Investment Bank (AIIB) increases financing for climate projects, AIIB President, Chairman of the Board of Directors Jin Liqun said during the opening ceremony of the AIIB Annual Meeting in Samarkand today, Trend reports.
According to him, AIIB actively develops financial instruments to help participants cope with economic shocks and increase their resilience.
"In particular, this June, financing based on climate policy was introduced to support countries' efforts to improve conditions for climate action. This initiative aims to mobilize private capital for the implementation of national climate plans," he pointed out.
Liqun emphasized the importance of the bank's financial stability, which is based on triple-A ratings from all major rating agencies. According to him, AIIB has successfully issued bonds worth $9 billion to date, with the distribution of these bonds adhering to NDPS (New Development Policy and Strategy) standards.
Since 2022, the bank's administrative expenses have been fully covered by operational income, demonstrating high financial discipline. This discipline strengthens AIIB's ability to increase financial support for its members over time, complementing other measures considered under the NDDS (New Development and Delivery Strategy) review.
Liqun also highlighted that the bank continues to deepen its client-oriented approach. In June of this year, the structure of investment operations was refined to optimize the deployment of technical and financial expertise and to enhance client relations, particularly in the area of financing and mobilizing the private sector.
Additionally, the introduction of country-based pooled funds (CBPF) has been a significant milestone towards achieving the Sustainable Development Goals (SDGs). This new initiative underscores AIIB's commitment to creating sustainable infrastructure for all and its growing role in addressing global challenges. It is expected that by 2024, the bank's financing for climate projects will exceed 60 percent of its lending, significantly above the established target of 50 percent.
To note, the AIIB is hosting its first annual meeting of the Board of Governors in Central Asia on the theme "Building Resilient Infrastructure for All" on September 25-26, 2024, in Samarkand.
Over two days, more than 25 panel discussions will take place, focusing on innovations in infrastructure financing, climate resilience, sustainable development, and the digital transformation of infrastructure projects.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel