India to host 3rd Annual Meeting of Board of Governors of AIIB

2018 Annual Meeting theme is – Mobilizing Finance for Infrastructure: Innovation and Collaboration

By Accommodation Times Bureau

AIIBIndia will host the 3rd Annual Meeting of the Board of Governors of AIIB at Mumbai on 25th and 26thJune 2018. The Theme of the Annual Meeting, 2018 will be “Mobilizing Finance for Infrastructure: Innovation and Collaboration”. The Government of India and Asian Infrastructure Investment Bank (AIIB) Secretariat today signed the Memorandum of Understanding (MoU) to delineate the duties and responsibilities of major stakeholders who would be involved in organizing the aforesaid Annual Meeting. The Memorandum of Understanding was signed on behalf of the Government of India by Shri Sameer Kumar Khare, Joint Secretary (Multilateral Institutions Division), Department of Economic Affairs (DEA), M/o Finance and by Mr Danny Alexander, AIIB’s Vice-President and Corporate Secretary on behalf of AIIB. The Signing Ceremony took place at the Ministry of Finance in North Block in New Delhi today in the august presence of Shri Subhash Chandra Garg, Secretary (Economic Affairs) and Dr. M.M. Kutty, Additional Secretary (Economic Affairs) and other senior officers of the Government of India and AIIB.

Speaking on the occasion, Shri Subhash Chandra Garg, Secretary, DEA said that it is a significant development that India is to host the 3rd Annual Meeting of AIIB at Mumbai. India is not only one of the founding members of AIIB but is also the 2nd largest shareholder in AIIB. Shri Garg noted that this international event will provide an excellent opportunity to showcase the strengths of the Indian economy and introduce AIIB members to potential infrastructure investment opportunities in India and Asia.

In his address, Mr. Danny Alexander, Vice President, Corporate Secretary, AIIB, stated that India is central to delivering on the Bank’s mandate to support the sustainable economic development of Asia through investment in Infrastructure. “It is but appropriate that the Annual Meeting is being held in Mumbai, the financial capital of India. We are hoping that discussions in Mumbai will help AIIB to deepen our cooperation with India and to develop our approach for mobilizing more private sector capital for infrastructure in Asia. AIIB will continue to develop the Bank according to “Lean, Clean and Green” core values”, Mr Alexander added. He also said that AIIB looks forward to continuing to work with the Indian Government and India’s business community to further develop solutions to fund vital sustainable infrastructure projects across the country.

Even though the 3rd Annual Meeting of the AIIB will take place on 25th and 26th June, 2018 in Mumbai, the Attendant Meeting of the Board of Directors will take place on 23rd and 24th June, 2018 and preparatory work and ancillary events will take place from 22nd June, 2018 till 27th June, 2018. The Annual Meeting will bring to Mumbai the delegates from all 80 AIIB Member countries, business leaders, members of civil society organizations and media among others.

 

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