AIIB and GEAPP Join Hands for Green Energy Transition

Current Context: The Asian Infrastructure Investment Bank (AIIB) and the Global Energy Alliance for People and Planet (GEAPP) partnered for the financing of green energy transition and renewable energy products.

• The Vice-President (Policy and Strategy) of AIIB, Sir Danny Alexander, and the CEO of GEAPP, Simon Harford, signed a Letter of Intent (LoI).
• The ceremonial event also witnessed the presence of the following dignitaries:

1. Jin Liqun (President of AIIB)
2. Dr. Rajiv Shah (President of the Rockefeller Foundation)
3. Per Heggenes (CEO of IKEA Foundation)
4. Dr. Andrew Steer (President of Bezos Earth Fund)

• The strategic partnership between AIIB and GEAPP aims to mobilize USD 1 billion for accelerating the green energy transition.
• The primary objective of this collaboration between AIIB and GEAPP is to jointly address the challenges that lie in the way of achieving a green energy transition.
• The joint partnership will co-finance projects and programs in the areas like grid-based renewables and fossil-fuel transitioning.
• AIIB is a development bank that was established in 2016 with its headquarters in Beijing, China. The current President of the development bank is Jin Liqun.
• GEAPP was established by the Rockefeller Foundation in 2021 to accelerate energy transitions in developing and least-developed countries.

Question:

Q.1 Who partnered with the Global Energy Alliance for People and Planet (GEAPP) partnered for the financing of the green energy transition?
a. World Bank
b. ADB
c. AIIB
d. NDB