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The Asian Infrastructure Investment Bank (AIIB) has launched its second Sustainable Development Bonds Impact Report, which illustrates how the proceeds from AIIB’s bonds are used to realize AIIB’s mission to finance infrastructure for tomorrow. The Report offers investors a view of the sustainable nature and impact of AIIB’s financing. This second edition of the Impact Report shares insights on the Bank’s financing in key infrastructure sectors—including sustainable energy, transportation, water, digital infrastructure—and AIIB’s COVID-19 Crisis Recovery Facility (CRF) to show the environmental and social benefits of such projects. In addition, the Report highlights how AIIB is supporting its Members achieve the UN Sustainable Development Goals (SDGs) as well as their goals under the Paris Agreement on Climate Change. In particular, this year’s Impact Report reflects AIIB’s distinct focus on green infrastructure. In 2021, AIIB’s climate finance has totalled 48% of approved financing (excluding those underthe CRF), up from 41% in the previous year, indicating progress toward the 50% by 2025 target set in AIIB’s Corporate Strategy. In 2021, after only six years of operations, AIIB has directly financed 4,502 MW renewable energy capacity; financed 32,494 km of roads, which include climate resilience measures; and helped save 26,334 GWh of primary energy through its investments to improve energy efficiency. AIIB’s total investments into the energy sector are expected to avoid 16.3 million tons of carbon dioxide equivalent (CO2e) of GHG emissions per year, thus contributing to the Paris Agreement climate ambitions. The Report is issued pursuant to AIIB’s Sustainable Development Bond Framework, and AIIB’s undertaking to deliver annual impact reporting on its overall portfolio- and project-level results to track AIIB’s commitment to sustainable development. “As sustainable investing is increasingly embraced by investors, the Impact Report is an opportunity for AIIB to communicate the sustainable nature of our strategy, efforts and accomplishments,” said AIIB Treasurer Domenico Nardelli, “Complementing the revisions to our Environmental and Social Framework (ESF) in 2021, this report demonstrates AIIB’s continued commitment to its mandate of financing Infrastructure for Tomorrow, as well as to communicating the sustainable nature of our business.” AIIB launched its inaugural Sustainable Development Bonds Impact Report (2020) last year. Each Impact Report presents data on AIIB’s portfolio volume and alignment with thematic priorities and   portfolio performance, as well as project impact stories. Compared to the case study-based project-level reporting last year, this year’s Report includes illustrative sector- level environmental and social impact indicators. AIIB’s Sustainable Development Bond Framework and Impact Report approach will be reviewed over time to reflect the evolution of the green, social and sustainable bond markets and changes in AIIB’s strategies, policies and processes, as the Bank’s portfolio matures.

The Shekhar Koirala faction staged a sit-in at the party headquarters in Sanepa on Wednesday arguing that party President Sher Bahadur Deuba submitted the closed list of the Proportional Representation category to the Election Commission without holding discussions with other leaders. The Koirala faction staged the sit-in demanding equal opportunities and justice in the upcoming elections to the House of Representatives and Provincial Assembly. They have demanded that the closed list be corrected at the earliest. The Koirala faction said that they should get at least 40 percent of the total tickets to contest the elections. On Tuesday, party spokesperson Prakash Sharan Mahat had said that the list was submitted to the Elections by holding consultations with all the leaders. Earlier this morning, a meeting was held among the party office bearers in Baluwatar to address the demands of the Koirala faction.    

Ambassador of the Federal Republic of Germany Dr. Thomas Prinz and Mrs Anuza Prinz organized a program to celebrate the Day of German Unity and the 35th anniversary of the Kathmandu Branch Office of the South Asia Institute, Heidelberg University, at their residence on Tuesday. Over 400 people took part in the program. This year Heidelberg University’s South Asia Institute (SAI) is celebrating its 60th anniversary and its Kathmandu Branch Office is celebrating its 35th anniversary. SAI has played an important part in promoting and organizing research in Nepal in this period and will continue the academic cooperation in future as well. Vice-President Nanda Bahadur Pun was invited as the chief guest for the event. Ministers and secretaries from various ministries of the Government of Nepal, leaders of political parties, heads of Kathmandu-based diplomatic missions, civil society members, Human Rights advocates, businessperson, media person and people from various walks of life were invited in the program, read a statement issued by the Embassy of the Federal Republic of Germany in Kathmandu. In his welcome speech, ambassador Prinz said, “Our bilateral relations with Nepal this year were marked by the German Government’s decision to continue the development cooperation with Nepal recognizing the good progress Nepal has made in the last years in political and socio-economic development sector” In 1989, the so called “Berlin wall” came down – the wall which had been dividing the Eastern and Western part of Germany since 1963. The “Berliner Mauer” was designed to physically prevent disaffected East Germans from fleeing to the West. The Peaceful Revolution of 1989 led to the opening of the border on November 9, 1989, which for the first time after 28 years allowed Germans to freely move in the whole of the country. It led to a new form of encounters between the East and the West, and it re-united the whole of Europe.

Renowned American ski mountaineer Hilaree Nelson, who went missing while skiing in Gorkha's Mount Manaslu, has been found dead. Shangri-La Nepal Treks Pvt. Ltd said that Nelson, who had gone missing since Monday, was found dead Wednesday morning. Her body is in Manaslu base camp. SP Keder khanal of the District Police Office, Gorkha said that preparations are underway to bring the body to Samagaun through a helicopter. Her mortal remains will be airlifted to Kathmandu later today, he said. Jeevan Ghimire, Managing Director of the Shangri-La Nepal Treks Pvt. Ltd, said that her family members are coming from the US to Nepal to study the incident site. Nelson’s friend Jim Morrison, however, had managed to return safely to the base camp.

The price of gold has increased by Rs 200 per tola in the domestic market on Wednesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 91, 600 per tola today. It was traded at Rs 91, 800 on Tuesday. Meanwhile, tejabi gold is being traded at Rs 91, 100 per tola. Similarly, the price of silver is being traded at Rs 1, 145 per tola today.

Nepali Congress spokesperson Prakash Sharan Mahat has said that the closed list of Proportional Representation category was prepared by holding discussions with all the leaders. He said so by organizing a press conference at the party office on Tuesday. Some leaders of the establishment faction have expressed their dissatisfaction with the list submitted to the Election Commission. “Desires of all the leaders may not have been fulfilled,” he said, “But, I hope that they will make the candidates of Nepali Congress and ruling coalition victorious. The new government will be formed under the leadership of Nepali Congress if that happens. This is the democratic process.” The Congress leaders said that the list was prepared by holding discussion with the office bearers, former office bearers, Parliamentary Board and leaders of all the seven provinces among others. He said that the party had not discriminated any one while preparing the list. Talking to journalists at the party office on Tuesday, Guru Raj Ghimire of the establishment faction said that the party had done injustice while preparing the list of Proportional Representation category. “This means, we do not need our names to be included in the list but justice. We will wait till the correction of the closed list. We are ready to face action but will not remain silent,” he said.  

Eight persons died when a jeep met with an accident at Mulpani in Kapurkot of Salyan on Wednesday. The deceased have been identified as jeep driver Jit Bahadur Bohara (21) of Jalbang, Kapurkot Rural Municipality-6, Salyan, Dharma Oli (37), Top Bahadur Oli (40), Basanta Oli (11), Suresh Khatri (30), Kum Lal Oli (70), Kumari Oli (55) and Lalit Oli (35). Police said that they died on the spot. Critically injured in the incident, Tilak Oli (35) of Jalbang, Kapurkot Rural Municipality-6 is undergoing treatment at the Provincial Hospital. Santosh Khanal, spokesperson at the District Police Office, Salyan, the jeep (Ra 1 Ja 563) was heading towards Jalbang, Kapurkot Municipality-6 from Nepalgunj when the incident occurred at around 2 am today.

Hurricane Ian knocked out power across all of Cuba and devastated some of the country’s most important tobacco farms when it slammed into the island’s western tip as a major hurricane Tuesday, Associated Press reported.

Cuba’s Electric Union said in a statement that work was underway to gradually restore service to the country’s 11 million people during the night. Power was initially knocked out to about 1 million people in Cuba’s western provinces, but later the entire grid collapsed.

Ian hit a Cuba that has been struggling with an economic crisis and has faced frequent power outages in recent months. It made landfall as a Category 3 storm on the island’s western end, devastating Pinar del Río province, where much of the tobacco used for Cuba’s iconic cigars is grown.

Tens of thousands of people were evacuated and others fled the area ahead of the arrival of Ian, which caused flooding, damaged houses and toppled trees. Authorities were still assessing the damage, although no fatalities had been reported by Tuesday night.

Ian’s winds damaged one of Cuba’s most important tobacco farms in La Robaina.

“It was apocalyptic, a real disaster,” said Hirochi Robaina, owner of the farm that bears his name and that his grandfather made known internationally.

Robaina, also the owner of the Finca Robaina cigar producer, posted photos on social media of wood-and-thatch roofs smashed to the ground, greenhouses in rubble and wagons overturned.

State media said Cuban President Miguel Díaz-Canel visited the affected region.

Cuba’s Meteorology Institute said the city of Pinar del Río was in the heart of the hurricane for an hour and a half.

“Being in the hurricane was terrible for me, but we are here alive,” said Pinar del Rio resident Yusimí Palacios, who asked authorities for a roof and a mattress.

Officials had set up 55 shelters and took steps to protect crops, especially tobacco.

The U.S. National Hurricane Center said Cuba suffered “significant wind and storm surge impacts” when the hurricane struck with top sustained winds of 125 mph (205 kph).

Ian was expected to get even stronger over the warm Gulf of Mexico, reaching top winds of 130 mph (209 kph) approaching the southwestern coast of Florida, where 2.5 million people were ordered to evacuate.