BAKU, Azerbaijan, October 29. The Asian Infrastructure Investment Bank (AIIB) has pledged 75 million euros towards a 500 million euros sustainability-linked green loan facility to accelerate ENGIE's renewable energy projects and decarbonization efforts globally, TurkicWorld reports via the AIIB.
This Sustainability-Linked Green Loan Project is co-financed by the International Finance Corporation (IFC) and Proparco, marking AIIB’s second major collaboration with ENGIE following financing of the 400 MW Gujarat Solar Project earlier this year.
The newly established loan facility is set to boost ENGIE’s clean energy portfolio across AIIB member countries, with particular focus on Poland and South Africa. The funds will support the acquisition, development, and construction of over 550 MW of new installed renewable capacity in these regions. As a sustainability-linked loan, repayment terms are tied to ENGIE’s global performance on greenhouse gas emission reductions, expansion of renewable energy, and improvements in occupational health and safety.
AIIB’s commitment aligns with its Energy Sector Strategy, which prioritizes support for major energy companies and state enterprises as they transition to cleaner energy models. Through this initiative, AIIB leverages ENGIE’s leadership in green energy to further climate-friendly projects and advance the energy transition across its member nations. ENGIE has set a target to invest EUR 22-25 billion in renewable and low-carbon energy solutions from 2023 to 2025, with this project marking a significant step in realizing that ambition.
