Tashkent, Uzbekistan (UzDaily.com) — During the ninth annual meeting of the Asian Infrastructure Investment Bank (AIIB), a session titled “Overcoming Consequences: Emergency Response to Flooding and Recovery in China” was held, focusing on disaster response measures and infrastructure recovery post-flooding.

Speakers included Jingjing Zhao, investment specialist at AIIB; Yulia Kuklite Polikarp, climate specialist at AIIB; and Shuai Gao, Level II officer at the Henan Provincial Finance Department.

The session addressed the impacts of the floods that struck Henan province in July 2021. Heavy rainfall caused significant damage, claiming over 300 lives and destroying critical infrastructure such as roads, bridges, water systems, and dams in Zhengzhou and neighboring municipalities. The flood, known as “7.20,” became one of the most devastating natural disasters in the region.

In response to the Chinese government’s request, AIIB approved an emergency loan for the recovery of the affected areas. The project includes upgrading flood protection standards, improving urban drainage systems, and establishing emergency flood response systems in the three hardest-hit municipalities: Zhengzhou, Xinyang, and Jiaozuo.

The project aligns with AIIB’s priorities for developing green infrastructure and incorporating technology into infrastructure projects. It also corresponds with the bank’s strategies in water resource management, urban development, and transport infrastructure, emphasizing resilience and adaptation to climate change. The initiative is considered climate financing as it includes measures to enhance climate resilience.

“We need to reinvest in sustainable infrastructure, as Asia is projected to suffer the most from climate change. If we do nothing, we will lose $160 billion a year due to climate change by 2030,” stated Yulia Kuklite Polikarp, AIIB climate specialist.

Jingjing Zhao, AIIB investment specialist, added that following the flooding in Henan province, AIIB approved a $1 billion loan for disaster recovery in 2021. “The overall strategy focuses on recovery and improving construction quality, as we do not want a repeat of such emergencies. We utilize three approaches: a framework approach, a sustainable approach, and a holistic approach.”

In closing, participants noted that the project not only aids in the recovery of flood-affected regions but also raises awareness of the negative impacts of climate change. It demonstrates AIIB’s commitment to creating climate-resilient infrastructure and supporting initiatives aimed at mitigating the effects of climate change.