AIIB Invests In Sustainable Logistics Park In China

2024-11-29 07:09:36

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 29. The Asian Infrastructure Investment Bank (AIIB) has approved $400 million in financing to support the Hubei Global Air Cargo Logistics Project, Trend reports.

The initiative will establish a modern bonded logistics park adjacent to the Hubei Ezhou Huahu International Airport, Asia's first dedicated freight airport.

The project will include advanced customs facilities, bonded warehouses, international cargo stations, and trade services, leveraging Huahu Airport's capacity to position Ezhou as a global air freight hub. By 2030, the park is projected to handle over 600,000 tons of international air freight annually, boosting cross-border trade and regional economic development.

AIIB Vice President Konstantin Limitovskiy highlighted the project's focus on green and smart logistics, with plans to achieve globally recognized green building certifications for all warehouses. Environmental and social safeguards, including a Resettlement Plan and Stakeholder Engagement Plan, will ensure sustainable development and community support.

The initiative aligns with AIIB's priorities of green infrastructure and regional connectivity, reinforcing its commitment to sustainable economic growth and innovation in logistics.

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