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AIIB pledges $100M for climate transition projects in emerging Asia

Economy Materials 30 September 2024 14:59 (UTC +04:00)
AIIB pledges $100M for climate transition projects in emerging Asia
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, September 30. The Asian Infrastructure Investment Bank (AIIB) has pledged $100 million to support climate transition projects in emerging Asia, Trend reports.

According to the bank, $75 million will be allocated to the Actis Asia Climate Transition Fund, with an additional $25 million available for co-investment alongside the Fund.

This initiative marks AIIB's first climate transition-focused fund for the region, reinforcing its commitment to sustainable development and climate change mitigation. The Fund is set to invest in renewable energy, energy efficiency, and sustainable transportation solutions across emerging Asian markets.

"Our partnership with the Actis Asia Climate Transition Fund underscores AIIB's dedication to financing sustainable infrastructure and fostering low-carbon solutions in Asia," said Rajat Misra, AIIB Acting Vice President, Investment Clients.

In addition to addressing environmental concerns, the Fund aims to reduce gender gaps in the energy sector by promoting gender equality and offering learning opportunities for future investments.

The project aligns with AIIB’s broader climate strategy, targeting net-zero emissions while driving social and environmental impact across Asia.

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