SAMARKAND: The cross-border projects are expected to constitute 25-30 percent of the annual approved financing by the Asian Infrastructure Investment Bank (AIIB) by the year 2030, AIIB President and Chairman of the Board of Directors Jin Liqun said at the seminar “Promoting Resilient Connectivity in Asia and Beyond” as part of the bank’s annual Board of Governors meeting, Trend reports.
“AIIB is actively collaborating with clients to identify priority projects in areas such as commerce, regional trade, investment, as well as digital and financial integration. It is essential to improve transport connections both within Asia and between Asia and other regions. Uzbekistan, and more broadly Central Asia, can offer valuable lessons on developing transport infrastructure for local communities. Several AIIB cross-border projects are already being implemented here in Uzbekistan,” he stated.
He emphasized the need for increased funding to adapt to new conditions for cross-border cooperation.
“However, significant
international collaboration will be necessary for further improvement, which presents a serious challenge. While member countries can gain immense benefits from expanded trade, investment, and integration, aligning regional policies with neighboring states remains a complex issue, along with the high, globally recognized costs of creating infrastructure for connectivity.”
A report on the development of cross-border infrastructure, set to be released later this year, aims to pave the way for more effective collaboration among national banks, highlighting their roles as catalysts and intermediaries in the implementation of international projects.
“By continuing to work with regional partners and other multilateral development banks, our bank has implemented a three-year joint program with the Association of Southeast Asian Nations (ASEAN) to support the master plan for cooperation among ASEAN countries. This program has helped member states identify high-quality cross-border connectivity projects,” he added.
J
in Liqun explained that through this program, AIIB provides specialized technical assistance and funding to enhance the effective use of the bank’s resources.
“Currently, we are collaborating with partners to develop similar initiatives in Central Asia,” he concluded.
To note, AIIB is hosting its first annual Board of Governors meeting in Central Asia, themed “Building Resilient Infrastructure for All,” in Samarkand on September 25-26.
The event will feature over 25 panel discussions focused on innovations in infrastructure financing, climate resilience, sustainable development, and the digital transformation of infrastructure projects.
Source: Trend News Agency