AIIB pledges $170 billion by 2030 for climate finance, focusing on developing countries.

At COP29, the Asian Infrastructure Investment Bank (AIIB) pledged to increase annual climate finance contributions to $170 billion by 2030, up from $125 billion in 2023, with a focus on low- and middle-income countries. AIIB also highlighted its $160 million investment in solar projects in Azerbaijan and introduced a new climate policy financing tool. The bank signed a strategic co-financing agreement with the French Development Agency to enhance global sustainable development and climate-resilient infrastructure projects.

November 26, 2024
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