The Asian Infrastructure Investment Bank (AIIB), established on December 25, 2015, has emerged as a beacon of genuine multilateralism in the Asian region. As an intergovernmental, multilateral development institution, the AIIB promotes connectivity and economic integration by investing in critical infrastructure projects across Asia.
Breaking the traditional monopoly held by developed countries over international financial organizations, the AIIB has reshaped the global economic governance model. By adhering to principles of fairness, equality, and joint participation, the AIIB ensures that every member country has an equal voice, amplifying the interests of developing nations.
As of December 24, 2024, the AIIB has approved 303 projects with a total approved financing of $58.88 billion and committed financing of $48.94 billion. These projects span various sectors, including energy, transport, and multiple other areas, with significant investments in projects like Tajikistan's Rogun Hydropower Development and India's Mumbai Metro Line 5.
The AIIB-funded infrastructure initiatives have generated substantial economic and social benefits, driving local economic growth. Projects in Oman, Cote d'Ivoire, and Laos have improved communication networks, enhanced agricultural distribution, and boosted energy supply, respectively, fostering mutual benefits and economic prosperity.
By focusing on infrastructure investment, the AIIB helps developing countries transform their factor endowments and ascend the value ladder in global industrial and supply chains. This strategic support enables these nations to transition from low-end to mid-to-high levels of industrial structure and elevate their presence in global markets.
In an era marked by rising protectionism and economic uncertainty, the AIIB offers certainty to global development. With 110 members representing 81% of the world’s population and 65% of global GDP, the AIIB continues to foster partnerships beyond Asia, supporting underdeveloped regions in Africa and Latin America and driving global economic expansion.
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Practicing true multilateralism: AIIB brings certainty to world
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