International, September 29 : The 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) will be held in Qatar on September 28 and 29. It will be the first Annual Meeting of the Board of Governors since the AIIB entered the second decade of its development journey.

Ahead of the Annual Meeting, AIIB President Zou Jiahui spoke to Xinhua News Agency in an interview about the bank’s operational progress and priorities for its future development.

Zou Jiahui said the AIIB has always followed the spirit of multilateralism and the principle of cooperative coexistence, while supporting member countries in achieving long-term and sustainable development. To respond more effectively to their development needs, the AIIB plans to double its annual loan approvals to approximately US$20 billion by 2030.

Zou Jiahui said that since taking office in January this year, he has visited nearly 30 member countries in Asia, Africa and Europe. During these visits, he held extensive exchanges with government officials, development partners and representatives of the private sector, seeking to better understand their development needs.

He said, “Although these member countries are at different stages of development, the message they have conveyed is highly consistent—infrastructure is the foundation of development. They hope that the AIIB will provide more infrastructure financing and support areas including green and low-carbon transformation, transport corridors and digital infrastructure development.”

He said the goal of the plan to double AIIB’s loan approvals is to help member countries build more sustainable and resilient infrastructure, enabling their economies to better align with future development needs.

Zou Jiahui said AIIB’s approved lending is expected to increase steadily this year from last year’s base.

However, increasing the volume of lending is not the only area of progress in AIIB’s operations this year. New developments include the approval of AIIB’s first project in South Africa, providing support for urban governance and management in the country. In addition, through loan guarantees, AIIB helped Pakistan issue its first “panda bond” in China.

The bank has also approved the establishment of a “special fund” to address energy and food crises. Under the fund, Bangladesh and Fiji will receive support to enhance financial resilience, address the impacts of climate change and advance sustainable development.

Zou Jiahui said AIIB member countries share a consensus on advancing infrastructure development and open regional cooperation. They believe that AIIB can help further expand partnerships and create new opportunities for development.

In Zou Jiahui’s view, as an international multilateral development institution guided by the spirit of multilateralism, AIIB not only builds infrastructure but also helps establish a foundation of connectivity and mutual trust.

Regarding the upcoming Annual Meeting, Zou Jiahui said the meeting will seek guidance from the governors on the future development of AIIB. At the same time, efforts will be made to deepen international cooperation and partnerships, while mobilizing greater capital investment from both the public and private sectors in infrastructure.

Source: Swarna, Foysal, Lily, China Media Group.