AIIB to promote more infrastructure investment projects for green future, says president
Photo taken on Jan. 13, 2021 shows the headquarters building of the Asian Infrastructure Investment Bank (AIIB) in Beijing, capital of China. (Xinhua/Li Xin)
The Asian Infrastructure Investment Bank (AIIB) will promote more infrastructure investment projects to expedite inclusive and low-carbon growth, and release capital for a green future based on sustainable capital market initiatives and other financing solutions, reported Shanghai Securities News Monday quoting AIIB president Jin Liqun.
Jin made the remarks on January 15 at the Global Asset Management Forum Shanghai Suhewan Summit. He said that AIIB has positioned itself as a green bank with the mission to mobilize more capital for climate change mitigation.
"But we need to do more. Our goal is to increase the cumulative financing for climate change mitigation to 50-odd billion dollars by 2030. By 2030, half of all our new financing will go to the private sector, and private investors will also pour resources into climate finance," said Jin.
Besides, "AIIB will pay special attention to technology-led growth, including digital investment, which relates to connectivity but more than that," Jin disclosed, adding that AIIB would deem infrastructure investment as a mean of connecting less-developed economies to the global economy and disseminating opportunities.
Jin also noted that as a young organization, AIIB has a smaller balance sheet than large financial institutions or funds. "Our main strengths are multilateral nature and governance capacity, and expertise in personnel, environment and social security. Therefore, AIIB is able to affect those challenging fields and conduct work, providing sustainable infrastructure for members' development," he added.