The eighth annual meeting of the Asian Infrastructure Investment Bank (AIIB) opened in Sharm el-Sheikh, Egypt on the 25th. At the opening ceremony, the President of the Asian Investment Bank, Jin Liqun, announced that the bank will launch the "Climate Action Plan", which is a milestone in the bank's commitment to addressing climate change. Jin Liqun stated that the Climate Action Plan showcases the AIIB's ambition in mobilizing funds, providing empowerment, and fostering cooperation to help its members cope with climate change. We must work together to quickly reduce greenhouse gas emissions and enhance our ability to withstand upcoming extreme weather events, "Jin Liqun said. This action plan is based on the Asian Investment Bank's response to climate change. The Asian Investment Bank will develop climate solutions based on the needs and specific circumstances of different clients, strengthen financing partnerships, mobilize funds for climate projects, and strengthen technological innovation to promote mitigation and adaptation work. In September 2020, the Asian Investment Bank issued its first medium-term development strategy (2021-2030), listing green infrastructure as one of the four key business areas. To this end, the Asian Investment Bank has set a climate financing target, which is to account for at least 50% of the approved total financing amount by 2025. Jin Liqun said that on July 1st this year, the Asian Investment Bank fulfilled its commitment to fully align all new investment projects with the goals related to the Paris Agreement. In addition, as of the end of 2022, the Asian Investment Bank's climate financing accounted for over 56% of the total investment, achieving the goal of 50% climate financing by 2025 ahead of schedule. The eighth annual meeting of the AIIB Board of Directors is a two-day event, marking the first time the AIIB has held an annual meeting in Africa. (New News Agency)