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COP31 host Turkey, AIIB strike record $1.6 billion climate policy deal
The package will back reforms on fiscal policy, regulation and planning as Turkey seeks $68 billion in climate investment by 2030, the bank said.
- On Thursday in Antalya, the Asian Infrastructure Investment Bank finalized a record $1.6 billion climate policy financing deal with Turkey, the host of the COP31 conference.
- Turkey, a founding member of the AIIB, requires an estimated $68 billion in additional climate investment by 2030, with around half expected from private sources.
- The agreement supports implementation of Turkey's Climate Law, covering fiscal policy and financial regulation to scale sustainable finance and accelerate decarbonization across the country of 86 million people.
- "This financing represents AIIB's largest climate policy-based financing package to date," said AIIB Chief Investment Officer Konstantin Limitovskiy, underscoring the bank's commitment to Turkey's climate ambitions.
- Program targets include helping 225,000 farmers switch to less water-intensive crops by 2028 and designating 50,000 hectares as carbon sinks to combat water scarcity and drought.
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The Asian Infrastructure Investment Bank (ABIB) and Turkey have signed a $1.6 billion financing agreement to accelerate climate reforms.
COP31 host Turkey, AIIB strike record $1.6 billion climate policy deal
·London, United Kingdom
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COP31 host Turkiye, AIIB strike record $1.6 billion climate policy deal
ANTALYA: The Asian Infrastructure Investment Bank has agreed a record $1.6 billion financing deal with COP31 climate conference host Turkiye to support a series of policy reforms aimed at attracting the investment it needs to hit its climate goals, the bank said. Turkiye, a founding member of the AIIB, will need an estimated $68 billion in additional climate investment by 2030, around half from private sources, the bank said in a statement on Th…
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Total News Sources16
Leaning Left1Leaning Right7Center4Last UpdatedBias Distribution59% Right
Bias Distribution
- 59% of the sources lean Right
59% Right
C 33%
R 59%
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