The Seventh Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) was held virtually on October 26, 2022.  

 

Under the theme of "Sustainable Infrastructure Toward a Connected World", the meeting focused on the role of infrastructure in promoting economic recovery, development and connectivity. 

 

Liu Kun, AIIB Governor and Minister of Finance of China, attended and delivered a speech via video link, and Wang Dongwei, Vice Minister of Finance of China, also attended the meeting. 

 

The attendees spoke highly of the AIIB's significant progress in business operations over the past year, and recognized AIIB's role in assisting members in responding to multiple crises and challenges, helping in economic recovery, and facilitating development. They underlined that the AIIB should continuously promote infrastructure construction, build its own comparative advantage, mobilize more financial resources, improve project quality and increase added value, so as to make greater contributions to its members in responding to the pandemic and sustainable development in the post-pandemic period. 

 

Liu pointed out that Chinese President Xi Jinping chaired the High-level Dialogue on Global Development in June this year to promote the implementation of the Global Development Initiative (GDI), injecting strong impetus into the implementation of the UN 2030 Agenda for Sustainable Development. 

 

The AIIB, a new platform to promote the common development of its members and the building of a community with a shared future for mankind, should adhere to the principle of "extensive consultation, joint contribution and shared benefits", uphold true multilateralism, and serve more members at different development stages based on their needs  through such measures as further promoting country programing and enriching the financing tool kit. 

 

The AIIB should further enhance institutional capacity building for its members in the fields such as infrastructure connectivity, digital infrastructure and climate change, promote coordinated development of  physical connectivity and hamonization of rules and standards, and strengthen the new development momentum of its members. 

 

Liu stressed that the recently concluded 20th National Congress of the Communist Party of China emphasized that China will embrace great rejuvenation of the Chinese nation on all fronts through a Chinese path to modernization, and will continuously create new opportunities for the world with its development. As an important shareholder and the headquarters host for the AIIB, China will work with all parties in supporting the Bank and running the Bank well so as to enable the Bank to contribute new energy in promoting common global development and the building of a community with a shared future for mankind. 

 

The annual meeting approved the AIIB's 2021 Annual Report and announced that its eighth annual meeting will be held in Sharm el-Sheikh, Egypt, from September 25 to 26, 2023. The meeting also elected Governor of Egypt as Chairman of the AIIB's Board of Governors, and Governors of the Maldives and Portugal as Vice Chairmen.