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AIIB and IRENA to support Asia’s energy transition

The Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a memorandum of understanding (MoU) committing to work together to support Asia’s energy transition and mobilise greater private capital for renewable energy.

The agreement was signed by AIIB President Jin Liqun and IRENA Director-General, Francesco La Camera, at a virtual ceremony to mark the new partnership. President Jin remarked upon how the Bank and IRENA will work together to accelerate investment and enhance awareness of renewable energy solutions throughout Asia.

“With Asia’s growing energy demand, and the rising challenges from climate change, we need to ensure the region invests more than ever in renewable energy and energy efficiency to facilitate their transition to low carbon energy mix. This partnership is part of the Bank’s journey toward realising the goals set out in the Paris agreement,” said President Jin.

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