Climate change battle 'won or lost' in Asia, says AIIB executive

Beijing-based multilateral lender eyes new tools for climate change financing

20231206 The Asian Infrastructure Investment Bank (AIIB)

The AIIB, viewed as an alternative to Western-backed lenders like the World Bank, focuses on funding sustainable, green infrastructure in developing countries. © Getty Images

SAYUMI TAKE, Nikkei staff writer

DUBAI -- The battle against climate change will be decided in Asia with new infrastructure playing a "crucial part" in mitigating the damage done by rising temperatures, said Danny Alexander, a senior executive at the Asian Infrastructure Development Bank (AIIB).

The Beijing-based multilateral lender this year committed to earmarking at least half its annual financing approvals to climate-related projects.

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