AIIB and sovereign governments on sustainable infrastructure

Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), has said the bank is promoting ‘green connectivity’.

Speaking at a session on sustainable infrastructure at the AIIB’s annual general meeting in Jeju, South Korea, Jin Liqun said the AIIB is working with sovereign governments promoting better policy environment.

“Our success depends on collaborative wisdom, collaborative cooperation and coordination,” he said. “The transition to low carbon economy is not just to address climate change, it’s also the best way to deal with structural reform.”

Jin Liqun emphasised the AIIB’s mantra – lean, clean and green – and said the organisation has ‘zero tolerance’ for corruption.

India Finance Minister Arun Jaitley, who also spoke on the panel, said India, despite its huge reserves of coal, is making a conscious effort to reduce carbon dependence ‘as much as possible’.

Lord Nicholas Stern, Professor at the London School of Economics and a member of the AIIB international advisory panel said developing green infrastructure in Asia is key to battling climate change.

“The next 20 years are absolutely fundamental” he said. “Infrastructure investment in Asia is central to the story.”

Michael Lawrence, Chief Executive of Asia House is currently in Jeju at the AIIB AGM.