BEIJING, July 19, 2023 /PRNewswire/ -- Since its establishment in 2016, the Asian Infrastructure Investment Bank (AIIB) has been committed to promoting sustainable infrastructure development and sustainable development finance.
With the issuance of the latest edition of its annual Sustainable Development Bonds Impact Report, AIIB demonstrates how its financing supports economic development in Asia and beyond. The report demonstrates how AIIB has been taking steps toward its Corporate Strategy's ambitious targets of directing 50 percent of overall approved financing toward climate finance by 2025. It also reaffirms AIIB's commitment to be Paris-aligned by July 2023. The report documents AIIB's major efforts toward these goals in 2022 and how it supported the sustainable development of its Members in an ever-changing post-pandemic environment.
"To reach the scale of financing required to meaningfully address the infrastructure financing gap calls for international support to mobilize funds from all sources," said AIIB President Jin Liqun. "We will continue to provide Members with tailored financing solutions that support the development of infrastructure asset markets and continuously promote the channeling of capital towards Paris-aligned investments."
Since the first Sustainable Development Bond Impact Report was released in 2021, AIIB has continued to make enhancements to its reporting practices to meet the requirements of its investors. This year's report discloses the percentage of climate finance of total project financing and the Sustainable Development Goals mapping for all projects with initial disbursements in 2022. It also includes an analysis of the economic impacts generated following the completion of AIIB's transportation project in Gujarat, India. To provide insight into the impact of AIIB's nonsovereign projects, the report includes a deep dive into the Bank's investment in Tata Cleantech Capital Limited. A complete list of projects disbursed in 2022 is also published as a separate volume.
As of end-2022, AIIB approved USD6.81 billion in financing for sustainable infrastructure projects in across 202 projects in 33 Members. A total of 56 percent of the approvals in 2022 involved climate finance, of which 81 percent was toward climate mitigation and 19 percent toward climate adaptation.
"AIIB recognizes that long-term economic development and environmental sustainability go hand in hand," said AIIB Treasurer Domenico Nardelli. "In 2022, AIIB Members received climate financing support in areas such as mainstreaming nature-positive action to protect biodiversity and combat the effects of climate change. Of all projects approved in 2022, nearly 60 percent are aligned with United Nations Sustainable Development Goal 13 (Climate Action). This reflects AIIB's commitment to sustainable development and showcases how all of AIIB's financing activities align with environmental and social development objectives."
For more information, read the AIIB Sustainable Development Bonds Impact Report and watch the video.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 106 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
