Boao, People’s Republic of China – March 28, 2024 – The Global Green Growth Institute (GGGI) is championing a greener Belt and Road Initiative (BRI) at the Boao Forum for Asia in Hainan, with a delegation including high-level participation of ministers of three of its Member States: Colombia, Ethiopia, and Lao PDR. GGGI believes that a greener BRI, a global connectivity initiative launched by China over a decade ago, could be a game-changer for green growth and developing greener infrastructure worldwide. During the session on ‘Financing a Greener Belt and Road’ co-organised with Boao Forum for Asia, GGGI and its Member States showcased the investment opportunities for Chinese green technology and finance.
As an intergovernmental organisation established to accelerate the transition to a green growth economy in its Member States, GGGI is currently supporting about 50 of its Member and Partner States to develop green policies and green investment projects. Of these, 47 countries have signed BRI agreements with China and are keen to see more green technology and finance come from China for green energy, electric cars and buses as well as green infrastructure such as metros and railways.
The Boao Forum for Asia Chairman HE Ban Ki-Moon, who is also GGGI’s President and Chair, noted the urgent need to scale up investments for a sustainable future. “Countries such as Colombia, Ethiopia, and Lao PDR are at the forefront of the battle against climate change, endeavoring to implement greener BRI projects, to fight the climate crisis, and to get on a path to sustainable development,” H.E. Ban Ki-moon said. “Without adequate financial and technical support, they risk falling short of their goals,” H.E. Ban Ki-moon added.
GGGI’s Director General, Dr Frank Rijsberman highlighted GGGI’s comparative advantage of preparing credible green investment projects for potential investors from China and elsewhere. “A 2023 survey of our developing and emerging economy Member States demonstrated the strong interest in greening BRI projects,” Rijsberman said. He added: “The three Ministers from GGGI Member States are here with concrete proposals for investment projects they seek Chinese technology and finance for. GGGI is ready to support the preparation of these project ideas and partner with China’s financial institutions such as the Silk Road Fund to realize these projects”.
On March 29, GGGI along with the Ministers from Colombia, Ethiopia, and Lao PDR GGGI will host a Roundtable Dialogue with Chinese financial institutions and potential investors to discuss concrete investment project opportunities in detail. This Roundtable Dialogue, open to participants of the Forum, intends to offer investors a chance to speak with the Ministers and senior GGGI investment staff on key investment obstacles they are facing and the overseas investment strategies they are putting forward. These meetings aim to enable results-oriented investment discussions with an investment pipeline along the Belt and Road countries.
Quotes from Attending Ministers:
H.E. Carlos Eduardo Enriquez Caicedo, Vice Minister of Transportation from the Republic of Colombia
“Greening the BRI is a significant step towards the climate change agenda. Making Colombia’s transport sector greener is our priority and we are endeavoring to pursue a sustainable development path with partners. I look forward to enhancing collaboration with the GGGI and Chinese institutions on promoting Colombia’s sustainable transport and green growth. We are working hard for a country with a better, and more sustainable infrastructure. So that is why our portfolio includes a big commitment with energy transition for public transport systems, using electric and low emission cars technology and an ambitious railways plan around Colombia.”
H.E. Ms. Semereta Sewasew AWEKE, State Minister of Finance from the Federal Democratic Republic of Ethiopia
“I am enthusiastic about the numerous opportunities a greener BRI can bring to Ethiopia and the African region. By partnering with the GGGI and working closely with Chinese institutions, Ethiopia can advance its green growth agenda further with more sustainable investments and projects.”
H.E. Ms. Phonevanh Outhavon, Vice-Minister of the Ministry of Planning and Investment (MPI) from the Lao People’s Democratic Republic
“The BRI has great potential to further reinforce Lao PDR’s connectivity with other countries in Asia and beyond, and our strong collaboration with the GGGI can contribute to making the BRI investments in our region greener and more sustainable.”
Photo from left to right: GGGI; Dr. Frank Rijsberman, Director- General, GGGI; H.E. Ms. Phonevanh Outhavon, Vice-Minister of Ministry of Planning and Investment (MPI) of Lao PDR; H.E. Ms. Semereta Sewasew AWEKE, State Minister of Finance from the Federal Democratic Republic of Ethiopia;H.E. Carlos Eduardo Enriquez Caicedo, Vice Minister of Transportation from the Republic of Colombia
About GGGI
Headquartered in Seoul the Republic of Korea, the Global Green Growth Institute (GGGI) was founded as a treaty-based international, inter-governmental organization in 2012 at the United Nations Conference on Sustainable Development. GGGI supports its Member States in transitioning their economies toward a green growth model that simultaneously achieves poverty reduction, social inclusion, environmental sustainability, and economic growth. With 48 Member States and over 23 Partner countries and regional integration organizations in the process of accession, GGGI delivers programs and projects in 50 countries. These initiatives encompass developing innovative green growth solutions, technical support, capacity building, policy planning & implementation, and assistance in building a pipeline of bankable green investment projects, project financing, investments, and knowledge sharing. GGGI’s work contributes to its Member States’ efforts to fulfill the Sustainable Development Goals and the Nationally Determined Contributions to the Paris Agreement.
For more information, visit: https://gggi.org
(Local GGGI communications contact)
Nova Li, Special Advisor to Director General and China representative
(GGGI Seoul HQ)
Mona Laczo, Communications & Knowledge Sharing Unit Head
mona.laczo@gggi.org