BEIJING - The Asian Infrastructure Investment Bank (AIIB) has released a new financing strategy focused on sustainable transport projects, in its latest effort to promote the United Nations Sustainable Development Goals (SDGs).
Priority will be placed on trunk linkages, cross-border connectivity, projects that result in transport integration and the upgrading of existing transport infrastructure, the AIIB said
The AIIB document, titled "Transport Sector Strategy", outlines the bank's objective to finance sustainable and integrated transport systems that help facilitate trade and economic growth in Asia.
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Consistent with the SDGs, the AIIB will seek to ensure its projects are economically, environmentally and socially sustainable in a balanced and integrated manner, according to a statement from the bank.
Priority will be placed on trunk linkages, cross-border connectivity, projects that result in transport integration and the upgrading of existing transport infrastructure, the AIIB said, adding that it embraces projects that leverage innovative and proven technologies.
The bank will also give priority to projects that minimize environmental and social risks and impacts, and promote universal access, equity of opportunity, and nondiscrimination.
"Infrastructure that promotes connectivity is crucial for trade and economic growth in Asia and beyond," said AIIB Vice-President for Policy and Strategy Joachim von Amsberg. "We will work closely with multilateral development banks and other partners to catalyze financing for sustainable transport development."
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