BAKU, Azerbaijan, Sept.28
By Leman Zeynalova – Trend:
By 2025, the Asian Infrastructure Investment Bank’s (AIIB) target is for climate finance to represent 50 percent of all financing approvals, AIIB told Trend.
“By 2030, we want to tap new sources of capital with half of our projects led by the private sector, while cross-border connectivity projects should be 25-30 percent of what we deliver. To achieve these goals, we will work closely with clients and partners for the benefit of all,” said the Bank.
AIIB said it is mandated to focus on infrastructure. “We enable clients to build Infrastructure for Tomorrow (i4t)—green infrastructure with sustainability, innovation and connectivity at its core. Operating on the foundations of robust banking principles, high project standards, multilateral governance and backed by a global and diversified shareholder base, we strive for financial and environmental sustainability.”
As for cooperation with Azerbaijan, the Bank said as of Sep.28 2021, it has approved two projects in Azerbaijan, with a total amount of $700 million. “One of them is the COVID-19 Active Response and Expenditure Support (CARES) Program-approved in 2021; and the other one is in the Energy sector: Trans Anatolian Natural Gas Pipeline Project (TANAP)-approved in 2016.”
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