Colombia Joins the Asian Infrastructure Investment Bank (AIIB) as Its Newest Member – Colombia One

Report on Colombia’s Accession to the Asian Infrastructure Investment Bank (AIIB) and its Alignment with Sustainable Development Goals (SDGs)

Colombia has been formally accepted as the 111th member of the Asian Infrastructure Investment Bank (AIIB). This development marks a significant step in the nation’s strategy to diversify its international financial partnerships and advance its commitment to the 2030 Agenda for Sustainable Development. The membership is positioned to provide critical financing for infrastructure projects that directly support the achievement of multiple Sustainable Development Goals (SDGs).

The Role of AIIB in Promoting Sustainable Infrastructure

The AIIB is a multilateral development bank with an authorized capital of US$100 billion. Its core mission is to finance modern infrastructure projects that are environmentally sustainable, technologically advanced, and promote regional connectivity. This mandate is intrinsically linked to the SDGs.

• SDG 9 (Industry, Innovation, and Infrastructure): The bank’s primary focus is on building resilient, sustainable, and inclusive infrastructure.
• SDG 7 (Affordable and Clean Energy): A key investment area is sustainable energy projects, crucial for the global energy transition.
• SDG 11 (Sustainable Cities and Communities): Funding is directed towards smart cities, sustainable transport networks, and climate-resilient urban development.
• SDG 6 (Clean Water and Sanitation): The AIIB supports projects aimed at improving water and sanitation infrastructure.
• SDG 13 (Climate Action): A central theme of the bank’s mission is financing infrastructure that enhances climate resilience.

Strategic Opportunities for Colombia’s National Development Plan

Colombia’s membership in the AIIB provides access to a new stream of financing explicitly aligned with its national development priorities and its “global power of life” vision, which emphasizes sustainable development and social justice.

Project Financing for SDG Achievement

Access to AIIB capital is expected to accelerate strategic infrastructure projects that contribute directly to specific SDGs:

• Development of efficient transportation networks to improve connectivity and reduce emissions (SDG 9, SDG 11).
• Expansion of clean energy systems to advance the national energy transition (SDG 7, SDG 13).
• Implementation of digital infrastructure in remote areas to reduce inequalities (SDG 9, SDG 10).
• Construction of climate-resilient infrastructure to protect vulnerable communities (SDG 11, SDG 13).

Discussions between Colombia’s National Planning Department and AIIB President Jin Liqun have already explored aligning Colombian projects in mobility, clean energy, and green cities with the bank’s sustainable investment criteria.

Strengthening Global Partnerships for Sustainable Development

This accession is a clear manifestation of SDG 17 (Partnerships for the Goals). By joining the AIIB, Colombia diversifies its sources of financing beyond traditional Western-based institutions, enhancing its economic resilience and strengthening South-South cooperation. This move follows Colombia’s recent entry into the New Development Bank (BRICS bank), further broadening its engagement with global financial platforms.

Procedural and Governance Framework

While the AIIB Board has approved the membership, several procedural steps must be completed to formalize Colombia’s status.

Formalization Process

1. Congressional Ratification: The decision must be debated and approved by the Colombian Congress, ensuring institutional oversight and public debate on the terms of membership.
2. Capital Contribution: Colombia must make its first capital contribution to the bank to become an active member.

Accountability and Stakeholder Concerns

Concerns have been raised regarding the potential social and environmental impacts of large-scale infrastructure projects. Adherence to the principles of the SDGs will require robust mechanisms for accountability, transparency, and meaningful citizen participation to ensure that development benefits are distributed equitably and protect the most vulnerable communities.

Geopolitical and Long-Term Outlook

Colombia’s membership in the AIIB is a strategic geopolitical decision that enhances its role in international cooperation. It positions the country to attract investment that supports its long-term vision for a sustainable and decarbonized economy.

The long-term success of this partnership in advancing the SDGs will depend on sustained political consensus across future administrations. A continued commitment to diversifying international partnerships will be essential for leveraging this opportunity to achieve Colombia’s sustainable development objectives fully.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

   The article highlights Colombia’s entry into the Asian Infrastructure Investment Bank (AIIB) to secure financing for sustainable development projects. This directly connects to several Sustainable Development Goals (SDGs) focused on infrastructure, energy, urban development, climate action, and international partnerships.

   • SDG 6: Clean Water and Sanitation

     The article explicitly states that one of the AIIB’s missions is to finance projects in “water and sanitation,” directly aligning with the goal of ensuring the availability and sustainable management of water and sanitation for all.

   • SDG 7: Affordable and Clean Energy

     The text repeatedly mentions financing for “sustainable energy” and “clean energy systems.” It also refers to Colombia’s goal of attracting investments that support the “energy transition,” which is the core objective of SDG 7.

   • SDG 9: Industry, Innovation and Infrastructure

     This is a central theme of the article. The AIIB’s primary purpose is to “promot[e] the development of modern infrastructure with a green, technological, and interconnected focus.” The article lists potential projects like “more efficient transportation networks” and “digital infrastructure for remote areas,” which are key components of building resilient infrastructure and fostering innovation.

   • SDG 11: Sustainable Cities and Communities

     The goal of making cities inclusive, safe, resilient, and sustainable is directly addressed. The article mentions that AIIB finances “smart cities” and “green cities,” and that potential financing could be allocated to projects that make “cities that are more resilient to climate change.”

   • SDG 13: Climate Action

     The article connects the financing opportunities to climate action by mentioning projects focused on “climate resilience” and the broader “fight against climate change.” This aligns with the goal of taking urgent action to combat climate change and its impacts.

   • SDG 17: Partnerships for the Goals

     The entire article is about strengthening global partnerships for sustainable development. Colombia’s accession to the AIIB is described as a “step in diversifying the economic and commercial partners,” strengthening “international cooperation channels,” and positioning the country as a “relevant player in South-South cooperation.” This directly reflects the spirit and objectives of SDG 17.

2. What specific targets under those SDGs can be identified based on the article’s content?

   Based on the types of projects and the nature of the partnership described, several specific SDG targets can be identified.

   • Target 7.a: Enhance international cooperation to facilitate access to clean energy research and technology

     Colombia’s membership in the AIIB is a form of international cooperation aimed at accessing “sustainable financing” for projects including “clean energy systems” and the “energy transition.”

   • Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure

     The article states the AIIB’s mission is to finance the “infrastructure of tomorrow,” including “sustainable energy, transportation, smart cities, water and sanitation, and climate resilience,” which directly supports the development of sustainable and resilient infrastructure.

   • Target 9.a: Facilitate sustainable and resilient infrastructure development in developing countries

     The article frames Colombia’s entry into the AIIB as a strategic move to secure financing for “strategic infrastructure projects with major social and environmental impact.” This is a clear example of a developing country seeking enhanced financial support from a multilateral institution for infrastructure development.

   • Target 11.2: Provide access to safe, affordable, accessible and sustainable transport systems

     The financing from AIIB is expected to be allocated to projects such as “more efficient transportation networks,” which aligns with the goal of improving transport systems within cities and regions.

   • Target 11.a: Support positive economic, social and environmental links between urban, peri-urban and rural areas

     The article mentions that financing could support “digital infrastructure for remote areas,” which helps strengthen the links between different regions and supports national development planning.

   • Target 17.3: Mobilize additional financial resources for developing countries from multiple sources

     The article emphasizes that Colombia’s accession “opens new doors for the country in the field of sustainable financing” and is part of a “strategy of diversifying sources of investment.” This directly corresponds to mobilizing financial resources from new, non-traditional sources.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

   The article implies several quantitative and qualitative indicators that could be used to measure the success and impact of Colombia’s membership in the AIIB.

   • Indicator 9.a.1: Total official international support for infrastructure

     The core purpose of joining the AIIB is to receive financing. Therefore, the total amount of financing that Colombia receives from the AIIB for infrastructure projects (“transportation networks,” “digital infrastructure,” “clean energy systems”) would be a direct measure of progress.

   • Indicator 7.a.1: International financial flows to developing countries in support of clean energy

     The article specifies that financing will be sought for “clean energy” and the “energy transition.” The amount of money allocated by the AIIB to Colombia specifically for these types of projects would serve as a key performance indicator.

   • Indicator based on Capital Contribution

     The article explicitly mentions that to formalize its membership, “Colombia must make the payment of its first capital contribution.” The amount of this contribution is a concrete indicator of the country’s financial commitment to the partnership (related to SDG 17).

   • Indicator based on Project Implementation

     An implied indicator is the number and scope of “strategic infrastructure projects” that are actually financed and implemented through this partnership. The article mentions discussions about aligning “Colombian projects” with the bank’s criteria in areas like “mobility, clean energy, [and] green cities.” Tracking these projects from proposal to completion would be a measure of success.

4. Table of SDGs, Targets, and Indicators

   SDGs	Targets	Indicators
   SDG 6: Clean Water and Sanitation	Not explicitly stated, but implied through project focus.	Amount of financing received from AIIB for “water and sanitation” projects.
   SDG 7: Affordable and Clean Energy	7.a: Enhance international cooperation to facilitate access to clean energy research and technology.	(Implied 7.a.1): International financial flows from AIIB to Colombia in support of “clean energy systems” and the “energy transition.”
   SDG 9: Industry, Innovation and Infrastructure	9.1: Develop quality, reliable, sustainable and resilient infrastructure. 9.a: Facilitate sustainable and resilient infrastructure development in developing countries.	(Implied 9.a.1): Total official financial support from AIIB to Colombia for infrastructure (transport, digital, etc.). Number of “strategic infrastructure projects” implemented with AIIB financing.
   SDG 11: Sustainable Cities and Communities	11.2: Provide access to safe, affordable, accessible and sustainable transport systems. 11.a: Support positive economic, social and environmental links between urban, peri-urban and rural areas.	Number of projects financed by AIIB for “smart cities,” “green cities,” and “efficient transportation networks.”
   SDG 13: Climate Action	Not explicitly stated, but implied through project focus.	Amount of financing mobilized through AIIB for projects related to “climate resilience.”
   SDG 17: Partnerships for the Goals	17.3: Mobilize additional financial resources for developing countries from multiple sources.	The successful accession of Colombia as the 111th member. The amount of “Colombia’s first capital contribution” to the AIIB.

Source: colombiaone.com