The Asian Infrastructure Investment Bank ( AIIB ), ahead of its annual general meeting in Beijing on June 26, has outlined its updated corporate strategy, with a focus on four key aspects, chief among them, the doubling of its annual financing target to US$17 billion by 2030 from its 2024 amount of US$8.4 billion.

Secondly, the strategy also ramps up the AIIB’s climate commitment to make over 50% of its annual financing climate-related, with total climate finance exceeding US$50 billion by 2030.

Thirdly, the multilateral bank, as part of its commitment to improving regional cooperation and connectivity, will dedicate 25% to 30% of its financing to support cross-border connectivity projects by 2030.

Finally, the AIIB has added a success indicator into its corporate scorecard to reinforce accountability in delivering results while supporting its members’ sustainable development.

Looking ahead, this strategy, the bank says, will steer it through the next five years, “serving not just as a reaffirmation of its vision, but as a renewed call to action – to scale up ambition, deepen partnerships and broaden impact”.

From 2016 to 2024, the AIIB has approved – across 37 countries – 303 infrastructure projects worth US$58.9 billion that aligned its thematic priorities of green infrastructure, connectivity and regional cooperation, technology-enabled infrastructure, and private capital mobilization. Energy and transport were the two leading sectors to receive the disbursement.

The bank also released its latest sustainable development bond impact report, which states that it has approved US$8.4 billion in financing in 2024 for 51 projects spanning energy, water, transport, sustainable cities, digital and social infrastructure, with 67% of the approved funding – or US$5.6 billion – channelled into projects delivering climate-positive outcomes.

Given intensifying climate change and economic challenges, Asia’s infrastructure faces enormous funding gaps, which needs be filled by both the public and the private sectors.

“We aim to deploy another US$75 billion by 2030 to narrow the infrastructure financing gap, but our ambition goes beyond dollar figures,” adds Jin Liqun, the AIIB’s president. “We want to make investments in infrastructure to have an impact not only for today’s communities but also for future generations.”