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Beijing, China, 20 November 2023

Senior government officials and experts from International Financial Institutions (IFIs) and partner organizations welcomed a new Multilateral Cooperation Center for Development Finance (MCDF) report on accelerating climate-smart connectivity infrastructure growth during a launch event at Asian Infrastructure Investment Bank (AIIB) headquarters on 20 November.

Participants discussed findings from Climate-Smart Connectivity Infrastructure: Best Practices and Case Studies at the event, which was co-organized by MCDF, China’s Ministry of Finance, AIIB, and the World Resources Institute (WRI). They stressed the importance of its practical lessons for delivering connectivity infrastructure projects that lower carbon emissions and build climate resilience in developing countries.

Watch: Event on Climate-Smart Connectivity Infrastructure: Financing Innovations and Best Practices

Watch: Key Messages from MCDF Climate-Smart Connectivity Infrastructure Report

“To tackle climate issues, the growth of climate-smart connectivity infrastructure could be one of the solutions,” said China Vice Minister of Finance Liao Min in opening remarks. “Based on MCDF’s report, we should focus on three key areas and that means standards, incentives, and the capacity to develop climate-smart connectivity infrastructure.”

“Mobilizing climate finance directed to good projects needs to be complemented by practical global lessons related to climate-smart connectivity,” echoed Egypt Vice Minister of Finance Ahmed Kouchouk. “Such knowledge capture and dissemination would help us all to deal with climate adaptation and mitigation challenges.”

The report showcases lessons on mobilizing finance and developing a project pipeline for climate-smart connectivity infrastructure, covering coastal infrastructure, maritime transport, roads, railways, and energy. It is based on a five-part workshop series cohosted by MCDF, the Egyptian Ministry of Finance, AIIB, Islamic Development Bank, Vulnerable Twenty, World Bank, and WRI.

“This best practice guide on climate-smart connectivity infrastructure will be helpful not just for AIIB but also other multilateral development banks who are all looking to ensure that new infrastructure is and will remain sustainable and is fully climate resilient,” explained AIIB President Jin Liqun.

“The report being launched today shows that climate smart connectivity will be central to making our economies more resilient if we internalize the externalities of climate change,” added Manuela Ferro, the World Bank’s Vice President for East Asia and the Pacific.

MCDF CEO Wang Zhongjing detailed how the report aligns with MCDF’s broader work to promote climate-smart connectivity. “We support developing countries, International Financial Institutions, and new partners in addressing sustainability challenges impacting cross-border infrastructure following international standards,” he said. “Climate change is an essential dimension in this context.”

“MCDF has in the past two years provided $22 million in grants to finance project preparation in the energy, transport, and telecommunication sectors as well as capacity building in nearly 20 countries in Asia, Africa, and Latin America,” CEO Wang continued. “It is expected to mobilize $6.6 billion in connectivity investment, of which over 55 percent aligns with the Paris Climate Agreement.”

A video presentation by Ede Ijjasz, Senior Advisor to the MCDF CEO and the report’s editor, overviewed its key lessons. It was followed by a panel of technical experts from WRI, AIIB, the Asian Development Bank, and the World Bank who discussed how their organizations are promoting climate-smart connectivity infrastructure and their views on applying the report’s lessons.

Mr. Liao Min, Vice Minister of Finance, China
Mr. Ahmed Kouchouk, Vice Minister of Finance for Fiscal Policies and Institutional Reform, Ministry of Finance, Egypt
Mr. Jin Liqun, President, AIIB
Ms. Manuela Ferro, Vice President for East Asia and the Pacific, World Bank
Mr. Wang Zhongjing, CEO, MCDF
Mr. Ede Ijjasz, Senior Advisor to the CEO, MCDF
Left to right: Mr. Strahan Spencer, Head of the Platform Team, MCDF; Mr. Chen Chen, Director of Transport, Sectors Group, Asian Development Bank; Ms. Li Fang, Country Director, China, WRI; Ms. Supee Teravaninthorn, Special Advisor to the Vice President, Investment Operations Region 2, AIIB; Mr. Joonkyun Seong, Program Leader For Infrastructure and Senior Energy Specialist, World Bank
Left to right: Mr. Liao Min, Vice Minister of Finance, China; Mr. Jin Liqun, President, AIIB; Mr. Ahmed Kouchouk, Vice Minister of Finance, Egypt; Ms. Manuel Ferro, Vice President for East Asia and the Pacific, World Bank

David Hendrickson
Senior Communications Officer
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