AIIB, Turkey sign record $1.6 bn climate financing deal at COP31

The Asian Infrastructure Investment Bank (AIIB) has signed a $1.6 billion financing agreement with Turkey to support policy reforms for its climate goals, the bank said. The package, AIIB's largest climate policy-based financing deal to date, will support Turkey's Climate Law and 2053 net-zero target. Turkey needs an additional $68 billion in climate investment by 2030, AIIB added.