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Lean, clean and green is the way we work: VP & Corporate Secy, AIIB

Asian Infrastructure Investment Bank, a first multilateral bank where the major contributors are the borrowing members themselves, functions, as Sir Danny Alexander, Vice-President & Corporate Secretary, Asian Infrastructure Investment Bank succinctly observed, ‘Lean, clean and green is the way we work…”

The third Annual Meeting of Asian Infrastructure Investment Bank (AIIB) hosted by the State of Maharashtra with participation of 86 members will deliberate upon the strategies to mobilize financing for infrastructure and, according to the official statement; PM Narendra Modi will deliver the inaugural address on Tuesday.

India has been the largest borrower of AIIB with the total project portfolios of USS$ 4.4 billion.

AIIB is the first multilateral development bank where principal contributors are the borrowing members themselves.

Expressing deep gratitude to Government of India and the State of Maharashtra for hosting the Annual Meeting, Sir Danny Alexander, Vice-President & Corporate Secretary, Asian Infrastructure Investment Bank, lauded India’s contribution as an active member in structuring and supporting the bank, says the official release.

Enumerating the priorities and lending norms, Sir Alexander said, ‘Lean, clean and green is the way we work. We invest in sustainability and are guided by those priorities. Our bank is apolitical and all projects have to pass our test on sustainability and environment’.

Furthermore, he said that AIIB will consider investing in projects outside Asia as long as they serve to benefit the Asian regions too. So far, AIIB has only invested in one solar power project in Egypt, Sir Alexander said.

While 75% of the capital is from Asia, several non-Asian regions like Europe, North America, some East African and Latin American countries have also joined the bank as members.

The third Annual Meeting of AIIB is being organized by Government of India, in collaboration with Government of Maharashtra at Mumbai during 25-26 June 2018.  

In the past, AIIB annual meetings were held at Beijing, China in 2016 and Jeju, Republic of Korea in 2017. 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, we commenced operations in January 2016 and have now grown to 86 approved members from around the world. By investing in sustainable infrastructure and other productive sectors today, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.
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