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AIIB to commit USD 5 bn financing for Turkey’s public projects: The Asian Infrastructure Investment Bank (AIIB) and Turkey have inked an MoU for USD 5 bn in financing for green and climate-resiliency public sector projects from 2025 to 2027, according to a statement issued on Monday. The financing will support projects in the energy, healthcare, water management, and transport sectors. The lender may also allocate USD 5 bn for private sector projects later, Reuters reported on Monday.
Saudi gets something too: AIIB and Saudi Arabia also inked a joint declaration of intent to launch a sustainable investment program, according to a press release issued Monday. The proposed program will aim to mobilize financing for power generation and transmission, sustainable transport, renewable energy and battery storage, as well as eqarthquake preparedness. The framework also aims to expand AIIB’s nonsovereign-backed through public-private partnerships.
IN OTHER GREEN FINANCE UPDATES-
Morocco’s green hydrogen ambitions got a boost: HydroJeel has secured a EUR 30 mn grant from the Power-to-X Development Fund to support the Moroccan state-owned fertilizers’ giant OCP’s Jorf Hydrogen Project (JH2P), according to a press release issued last week. The PtX Development Fund — an initiative backed by the German federal government and managed by KGAL Investment Management — awarded the grant following a competitive process that evaluated 98 proposals from seven countries.
The project’s details: JH2P aims to produce 100k tons of green ammonia annually by the end of 2026, cutting around 300k tonnes of CO2 emissions, according to the press release. The project is expected to scale production to 1 mn tons by 2027 and 3 mn tons by 2032. The Front-End Engineering Design phase for the project was set to kick off in November 2024.
About the company: HydroJeel is a subsidiary of Innovx, a company backed by Mohammed VI Polytechnic University. Innovx presents itself as a venture capital and business development company focused on sustainability and tech.
