Beijing, China, December 17, 2019

AIIB Invests USD500M for Low-Carbon Energy, Air Quality Improvement in China

The Asian Infrastructure Investment Bank (AIIB) is investing USD500 million to support China’s efforts to transition to a lower-carbon energy future. The Beijing-Tianjin-Hebei Low Carbon Energy Transition and Air Quality Improvement Project aims to increase the availability of natural gas to help reduce coal consumption and related emissions in the region surrounding China’s capital.

With a population of around 112.7 million1, the Beijing-Tianjin-Hebei region is one of the most important economic engines within China. However, it has been facing the dual challenges of increasing energy demand and addressing air pollution, which directly affect the quality of life of local residents. China is endeavoring to control coal consumption as part of its commitments under the Paris Agreement to peak its carbon dioxide emissions by 2030. Reducing coal consumption will also deliver the co-benefit of improving air quality. To meet its environmental commitments and still ensure adequate gas supply to maintain peoples’ livelihoods, an emergency reserve capacity is required. This became evident during a gas shortage which occurred in the winter of 2017/2018.

The project is AIIB’s first sovereign-backed financing in China. It involves the construction of a liquefied natural gas (LNG) terminal in Binhai District, Tianjin Municipality, covering LNG receiving, storage and regasification facilities and an unloading wharf.  AIIB financing will be used in the construction of LNG receiving, storage and regasification facilities. The project will be implemented by Beijing Gas Group Company Limited.

Upon completion, the project will reduce coal consumption by approximately 11.9 million tons per year and help improve air quality by reducing a significant amount of coal combustion-related emissions such as CO2, SO2, NOx and particulate matters in the Beijing-Tianjin-Hebei region.

“The project will support China’s efforts to fulfill its commitments under the Paris Agreement, and strengthen and contribute to the global response to the threat of climate change,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “It aligns well with AIIB’s commitment to sustainable energy for Asia and reducing the carbon intensity of energy supply.”

With this project, AIIB can augment its institutional capacity and expertise in LNG infrastructure for similar projects in other members.

Additional information about the project can be found here.

 

1 China Statistics Yearbook, 2019. (2018 data)

 

 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 100 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.

Logos for Download

Our logo is available in JPEG and PDF format.

DOWNLOAD


Media Contact

Lingxiao He

Press Officer

+86 10 8358 0683

SEND AN EMAIL

More News Articles

Beijing, January 09, 2023

AIIB Welcomes Mauritania as New Prospective Member

The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved Mauritania’s application, raising the Bank’s approved membership to 106. Mauritania is now AIIB’s 55th nonregional member, 21 of which are from Africa.

READ MORE

Beijing, December 30, 2022

AIIB Extends EUR250M to Support Egypt’s Green Public Transportation

The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a EUR250-million loan to Egypt for the Alexandria-Abou Qir Metro Line Project. Aiming to increase access to efficient, safe and low-carbon public transportation in the city of Alexandria, the project will upgrade and electrify the existing Alexandria-Abou Qir line. Twenty metro stations along the 22-kilometer corridor will be modernized, 13 stations and 16 kilometers of which will be elevated.

READ MORE

Beijing, December 12, 2022

AIIB Reinforces Commitment to Support Members’ Clean Energy Solutions

The Board of Directors of the Asian Infrastructure Investment Bank (AIIB) has approved an update to the Bank’s Energy Sector Strategy on Nov. 22, 2022. Under the updated Energy Sector Strategy, AIIB will focus its energy investments on supporting its Members to achieve their long-term climate goals and net-zero/carbon neutrality commitments and to accelerate the just transition towards secure, affordable, and sustainable energy access for all.

READ MORE

Beijing, December 07, 2022

AIIB Signs USD200-M On-Lending Facility to Boost Türkiye’s Climate Mitigation and Adaptation Efforts

The Asian Infrastructure Investment Bank (AIIB) and the Industrial Development Bank of Türkiye (Türkiye Sınai Kalkınma Bankası A.Ş. or TSKB) have signed a USD200-million on-lending facility to contribute to the Republic of Türkiye’s climate mitigation and adaptation goals in line with the Paris Agreement.

READ MORE

Home News and Insights Media Center News AIIB Invests USD500M for Low-Carbon Energy, Air Quality Improvement in China