The Asian Infrastructure Investment Bank (AIIB) has opened public consultations on the draft of its Sustainable Cities Strategy. The Strategy outlines AIIB’s vision of realizing economically, environmentally and socially sustainable Asian cities that are green, resilient, efficient, accessible and thriving (GREAT).

There is an urgent need to develop sustainable infrastructure to support the rapid growth of Asian cities as climate change worsens. The United Nations estimates that by 2050, an additional 1.2 billion people will live in Asian cities, and by then Asia's urban population will account for more than 50 percent of the world’s urban population. As Asia’s urban population grows, natural resources become stressed, new cities and urban districts need to be developed and existing cities need to be retooled to improve livability and people’s quality of life.

With the GREAT objectives set out in its Sustainable Cities Strategy, AIIB aspires to be a trusted partner in providing financing solutions for cities in Asia. AIIB’s infrastructure investments in cities are based on the principles of being client-driven, outcome-driven and financially viable. AIIB will adopt a gradual and focused approach in conducting such investments. The bank’s priorities will be to enhance urban mobility, improve basic infrastructure and city resilience and promote integrated development. AIIB will also support investments in innovations and technologies that have proven to be beneficial for the development of sustainable cities.

"Supporting our clients to build the cities of tomorrow is a key priority for our bank," said AIIB Vice President for Policy and Strategy Joachim von Amsberg. "We will work closely with our partners and experts on urban development to promote sustainable development in Asian cities. We welcome inputs and comments from all interested parties to help us further refine our strategy."

Public consultations have formed an important part of AIIB’s decision-making process since its inception in January 2016. Interested parties such as government agencies, private sector companies, industry associations, civil society organizations and academics are invited to view the draft strategy on the AIIB website. An AIIB Sustainable Cities Study is also posted on the website for reference. The public consultation period will last eight weeks from August 27, 2018 to October 21, 2018. Written comments must be submitted by October 21, 2018 to scs.consultation@aiib.org.

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, we commenced operations in January 2016 and have now grown to 87 approved members from around the world. By investing in sustainable infrastructure and other productive sectors today, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.