AIIB unveils 2017 priorities

The Asian Infrastructure Investment Bank (AIIB) on Monday released its strategic priorities for the year ahead.

The multilateral development bank will focus on three major areas this year -- sustainable infrastructure, cross-country connectivity and the mobilization of private capital, according to a statement on its website.

In a bid to promote sustainable infrastructure, AIIB will promote green infrastructure and support countries to meet their environmental and development goals.

It will prioritize cross-border infrastructure, including roads, rail, ports and energy and telecommunications facilities across Asia and beyond to increase connectivity among countries, the statement said.

AIIB will also devise innovative solutions that catalyze private capital together with other multilateral development banks, governments and private financiers.

AIIB's core mission is to promote Asia's social and economic development by investing in projects that will connect people, services and markets, said AIIB president Jin Liqun.

"We have a strong pipeline of projects in 2017 that will prioritize green infrastructure investment, promote energy efficiency, renewables, clean transport and other projects that help address global warming," Jin said.

Since opening on Jan. 16, 2016, AIIB has welcomed 57 signatory countries and approved loans of 1.73 billion U.S. dollars to support nine infrastructure projects in seven countries.

Source: Xinhua