India
will host the 3rd Annual Meeting of the Board of Governors of AIIB
at Mumbai on 25th and 26th June 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.
Annual
Meeting related Seminars would also be organized in some Indian cities like
Delhi, Kolkata, Guwahati, Hyderabad, Chennai, Bangalore & Vishakhapatnam
etc. prior to the main Annual Meeting. The website https://www.aiib.org
will detail out specific information about the forthcoming Annual Meeting. Registration
for delegates and media desirous to cover the event will also soon be
facilitated. A Special Committee at the level of Secretary, DEA has been
constituted for coordinating the matters relating to organizing the 2018 Annual
Meeting, with representatives from various Ministries concerned of Govt. of
India and Govt. of Maharashtra. The Government of Maharashtra has nominated
Maharashtra Industrial Development Corporation (MIDC) as the nodal agency for
organising the Annual Meeting.
AIIB
is a multilateral development bank with a mission to improve social and
economic outcomes in Asia and beyond. Headquartered in Beijing, China, AIIB
commenced operations in January 2016. The AIIB today also approved a US$335
million loan to finance a 100-percent electric Bangalore Metro Rail—R 6 project.
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DSM/SBS/AS
