Why is the "circle of friends" of AIIB getting bigger and bigger in the 7th anniversary of its opening and operation?

2023-01-17

On January 16, the Asian Infrastructure Investment Bank ushered in the seventh anniversary of its opening and operation. From 57 founding member countries seven years ago to 106 members from six continents in the world, why is the "circle of friends" of the AIIB growing? We are firmly committed to multilateralism and have more and more partners in the same industry. More than half a month ago, Mauritania, an African country, was approved to join the AIIB. Today, the AIIB has 106 members, covering 81% of the world's population and 65% of GDP, and has become the world's second largest international multilateral development institution with fewer members than the World Bank. Keep the door open; We will work together to promote development and move forward with our partners. In 2022, the AIIB newly established the Financing Partnership Bureau to expand friendly cooperation with institutions in the field of global development. In addition, the AIIB has also established partnerships with the OPEC International Development Fund, the Latin American Development Bank, the German Bank for Reconstruction and Credit, and the Export-Import Bank of China to jointly promote the solution of global development issues. More and more projects have been carried out, and the credibility has been continuously improved. In 2018, the village of Padma Bari, Bangladesh, achieved power access for the first time. In the past seven years, the AIIB has approved a total of 202 projects to help infrastructure construction, promote local economic and social development and improve people's lives, with a total financing amount of more than US $38.8 billion and driving capital of nearly US $130 billion. On the basis of firmly supporting the sustainable development of members in the Asian region, the AIIB increased its financing support to members outside the region in 2022, and the first Brazilian project and the first Ivorian project were approved successively. Over the past seven years, AIIB's projects have been distributed in 33 countries around the world, involving energy, transportation, water, communications, education, public health and other industries. The rapidly growing business scale is also driving the AIIB to expand its global business layout. After the establishment and opening of the Tianjin office in 2021, the AIIB began to prepare to build its first overseas office in Abu Dhabi, the capital of the United Arab Emirates, in 2022 to expand its investment business in the Middle East, Central Asia, Africa, Latin America and other regions. Thanks to good business development, prudent risk control, and high standards of internal governance and management, the AIIB has always maintained the highest AAA credit rating given by the three major international rating agencies. The quality of cooperation is getting higher and faster. In September 2020, the AIIB issued its first medium-term development strategy (2021-2030), and green infrastructure is listed as one of the four key areas of business. To this end, the AIIB has set a climate financing target, that is, by 2025, climate financing should account for at least 50% of the total approved financing. In 2022, the AIIB's annual climate financing is particularly significant, accounting for 55%. Have the courage to explore and innovate, and respond to diverse needs. As a new member of the family of international multilateral institutions, the AIIB has innovated its development concept, business model and institutional governance to promote connectivity and green development through flexible and diversified development financing products. In June 2022, the AIIB successfully issued 1.5 billion yuan of sustainable development panda bonds in China's inter-bank market. This is the case of international multilateral institutions in China after the launch of sustainable development bonds

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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