The Asian Infrastructure Investment Bank (AIIB) and the Presidency of the United Arab Emirates' COP28 have recently teamed up to raise climate investment funds and accelerate clean energy investments. The two entities are focusing on the development of innovative financial structures to mobilize private and institutional capital, improve multilateral development finance architecture, and strengthen institutional collaboration through operational support and knowledge exchanges.
This cooperation is seen as a pivotal move towards achieving the 2030 agenda and targets set by the Paris Agreement. AIIB President, Jin Liqun, views this partnership as a significant step in unlocking additional capital and delivering value in areas most in need.
The joint venture between AIIB and COP28 Presidency is also working towards energizing climate investment capital by leveraging innovative financial structures. One such structure is the blended finance model, specifically designed for green projects.
COP28 President-Designate Sultan Al Jaber emphasized that this partnership aims to attract private capital, release necessary finance, and support mitigation, adaptation, and climate-resilient initiatives. He envisions this collaboration as a pathway to unlock critical finance, attract private capital, and progress mitigation and adaptation strategies, all contributing to a climate-resilient future.
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