AIIB Enhances Support for Southeast Asia’s Green Transition and Sustainable Infrastructure Development, Board of Directors Meets at Bank’s Headquarters
Beijing—The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved an investment of up to USD120 million in the Seraya Southeast Asia Energy Transition and Digital Infrastructure Fund (the Fund). The investment aims to support the region’s green energy transition and technology-enabled infrastructure development, which is also expected to improve cross-border digital connectivity within Asia.
The Fund aims to allocate its investments in digital infrastructure (e.g., data centers) and energy transition opportunities (e.g., offshore wind farm vessel operations, transport electrification opportunities, low energy building solutions and other related subsectors).
While green energy transition is the centerpiece of global efforts to achieve sustainable development, address climate change and accelerate a new age of inclusive, low-carbon growth, the Fund is expected to contribute toward the reduction of greenhouse gas emissions and achievement of Net-Zero targets through increasing renewable energy capacity.
“AIIB plays a major role in building more resilient and sustainable energy infrastructure to deliver significant socioeconomic benefits, meet growing demand of our Members’ economies and help achieve global climate objectives,” said Urjit R. Patel, AIIB Vice President, Investment Operations (Region 1). “AIIB is committed to catalyzing the flow of capital toward renewables and energy transition-related infrastructure to build a more resilient and sustainable energy system for our Members.”
On March 21-23, AIIB’s Board of Directors met for their quarterly meeting. This is the first time for the meeting to be held in person since COVID-19. Almost 100 delegates attended the Board meeting and various other formal and informal meetings and events.
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. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.