ContextOpening of the 11th Annual Meeting in Doha of the Asian Infrastructure Investment Bank, whose mission is to finance infrastructure in Asia, while the region's needs far exceed available funding.
Why it mattersThe AIIB's yearly gathering of its member governments: the President sets out where the bank wants to put its effort next, notably on preparing projects before they are financed.
- Infrastructure needs of member countries remain large.
- Projects are often poorly prepared before financing.
- Borrowers face currency risk on foreign-currency loans.
- Engage earlier in the project cycle and invest in upstream work.
- Strengthen project preparation support.
- Broaden the financing toolkit, including local-currency options.
Read the speech summary
1. A new president's first annual meeting
Opening the Asian Infrastructure Investment Bank's 11th annual meeting in Doha, President Zou Jiayi noted the bank now counts 111 members, has approved over USD 79 billion for more than 400 projects in 43 economies and keeps top credit ratings. After visiting more than 30 members, including a ride on a rapid-transit line near Delhi that the bank helps fund, she said members consistently ask for more infrastructure and more financing.
2. Plans for the next decade
The bank aims to roughly double yearly lending to about USD 20 billion by 2030, focusing on climate resilience, renewables, digital networks, regional links, nature and social infrastructure, while drawing in more private capital. It will move closer to clients, open more offices, engage earlier in project preparation and offer more local-currency financing, with integrity and high standards as guiding principles.
3. Cooperation
She presented development as a shared agenda among equal partners, noted Asia needs some USD 3 trillion of infrastructure investment a year, and said the bank will keep its Asian focus while staying open to members from other regions.