Türkiye and AIIB agree on 16 bln dollars climate policy deal at COP31

The Asian Infrastructure Investment Bank (AIIB) reached a record $1.6 billion financing ⁠deal with COP31 climate conference host ⁠Türkiye to support a series of policy reforms aimed at attracting the investment it needs to hit its climate goals, the bank ​said.

Türkiye, a founding member of the AIIB, will ​need ⁠an estimated $68 billion in additional climate investment by 2030, around half from private sources, the bank said.

Covering fiscal policy, financial regulation and sectoral planning, the agreement will support the implementation of Türkiye's Climate Law and its plan to cut planet-warming emissions, which includes an interim target for 2035 and aims to achieve net zero by 2053.

"This financing represents AIIB's largest climate policy-based financing package to date, and we look forward to contributing to Türkiye delivering on its climate ambitions," sAIIB Chief Investment Officer Konstantin Limitovskiy said.

Total AIIB climate financing in 2025 was a record $7.47 billion, he noted.