Beijing-led Asian Infrastructure Development Bank commended the proposal of the Department of Finance for multilateral development banks to work together in incentivizing private capital flows for climate projects of developing countries.
The AIIB chief also said that the bank recognizes that “a lot more needs to be done” to mobilize private sector investments in climate adaptation and mitigation projects. “AIIB is committed to positioning itself as Asia’s Climate Finance Partner, to support its members in achieving their respective low-carbon energy transition and climate pledges made in both domestic and international fora including the Paris Agreement,” he added.
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