Supporting green and low-carbon transformation, AIIB invests over 1 billion US dollars in projects in Beijing

As the headquarters of international multilateral institutions, Beijing is also a key area of investment focus for the AIIB. On June 11th, the reporter learned from the Asian Infrastructure Investment Bank that in recent years, the bank has invested over 1 billion US dollars in Beijing to assist in the green and low-carbon transformation of urban energy.

The first project of the Asian Infrastructure Investment Bank towards China is located in Beijing. Yang Hongliang, Director of the Investment Solutions Business Department of AIIB, gave an example that in 2017, AIIB provided a $250 million loan to Beijing Gas Group to support its expansion of natural gas transmission network. The project was completed in 2019, reducing coal consumption by over 650000 tons annually.

In 2019, the Asian Infrastructure Investment Bank provided a $500 million loan to Beijing Gas Group to support its construction of an LNG (liquefied natural gas) receiving station in Tianjin, which can receive 5 million tons of liquefied natural gas per year with a daily gasification capacity of 60 million cubic meters, and build a natural gas pipeline connecting Beijing Tianjin Hebei. After the project is put into operation, it has played a great demonstration role in promoting energy transformation, natural gas supply guarantee, and sustainable development in the three regions.

The sustainability of investment projects should be reflected in multiple aspects such as economy, environment, and society, rather than just simple financial indicators. Yang Hongliang said that the LNG project is not only the first sovereign guarantee project of the Asian Infrastructure Investment Bank in China, but also the first LNG receiving station project of the Asian Infrastructure Investment Bank. This project has also accumulated more successful experience for the Asian Infrastructure Investment Bank. The project also embodies China's advanced development concept, such as exploring and attempting in areas such as environment, society, biodiversity conservation, wetland conservation, etc., which has high demonstration significance and promotion value.

In the future, the application of infrastructure such as artificial intelligence and digital technology in Beijing will be a key focus of investment for the Asian Infrastructure Investment Bank.