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
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.
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.