AIIB to Step up Support for Renewable Energy, Sustainable Infrastructure Development
UN Photo/Kibae Park
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The Asia Infrastructure Investment Bank (AIIB) is a multilateral development bank focusing on infrastructure needs across Asia.

AIIB held the second meeting of its Board of Governors in Jeju, Republic of Korea.

Next to regular business meetings, participants attended a series of seminars on specific investment challenges, including sustainable infrastructure, sustainable energy for Asia, promotion of renewable energy infrastructure in Asia, and partnerships in promoting infrastructure investments in Asia.

18 June 2017: The second meeting of the Board of Governors of the Asia Infrastructure Investment Bank (AIIB) addressed several issues relevant to SDG implementation. Launched in 2016, AIIB is a multilateral development bank (MDB) with a focus on financing infrastructure needs across Asia.

The meeting of the Board of Governors took place from 16-18 June 2017, in Jeju, Republic of Korea. Next to regular business meetings, participants attended a series of seminars on specific investment challenges, including sustainable infrastructure, sustainable energy for Asia, promotion of renewable energy infrastructure in Asia, and partnerships in promoting infrastructure investments in Asia.

The Bank is currently undertaking consultations regarding its ‘Sustainable Energy for Asia’ Strategy that will provide a framework for the Bank’s future energy sector engagement.

In his opening remarks AIIB President Jin Liqun stressed the Bank’s role in facilitating the implementation of the Paris Agreement on climate change and implementing the 2030 Agenda for Sustainable Development. He noted the absence of coal projects in the AIIB’s pipeline and that it will not consider proposals “if we are concerned about their environmental and reputational impact.” He also stressed the Bank’s rigorous implementation safeguards to ensure that AIIB financing promotes inclusive development by improving access to energy and infrastructure for the poor.

The Bank is currently undertaking consultations regarding its ‘Sustainable Energy for Asia’ Strategy that will provide a framework for the Bank’s future energy sector engagement, informed by the principles of the Paris Agreement, the 2030 Agenda, and Sustainable Energy for All (SEE4ALL).

AIIB currently has 80 members, after approving Argentina, Madagascar and Tonga as new members during the Board of Governors’ Meeting. It has deployed more than US$1.7 billion to date to support infrastructure development projects in Pakistan, Bangladesh, Tajikistan, Indonesia, Myanmar, Azerbaijan and Oman.

The AIIB focuses on financing sound and sustainable projects in the following sectors: energy and power; transportation and telecommunications; rural infrastructure and agriculture development; water supply and sanitation; environmental protection; and urban development and logistics. [Opening Statement of AIIB President Jin Liqun] [AIIB Press Release – New Members] [AIIB Press Release – Energy Strategy Consultations] [Draft AIIB Energy Sector Strategy] [AIIB Website]

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