Samarkand, Yusuf Abdulla Al Humood, the Undersecretary for Financial Affairs at the Ministry of Finance and National Economy, led Bahrain’s delegation at the Ninth Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), held from September 25-26 in Uzbekistan.
The meeting was inaugurated by His Excellency Shavkat Mirziyoyev, President of Uzbekistan, with the participation of finance, economy, and investment ministers, senior private sector officials, and representatives from international organisations.
The meeting underscored the role of the AIIB in developing and implementing infrastructure investment strategies to meet the needs of member states, particularly in transitioning towards a green, climate-resilient economy.
They also discussed the impact of infrastructure on key sectors such as social, economic, and sustainable development, ensuring financial stability.
The meeting highlighted the bank’s efforts to create innovative financing plans aligned with the need
s of member states, stimulate private sector investment, and promote sustainability.
It also reviewed strategies for managing debt levels and financial pressures on public infrastructure spending, while optimising available resources to support economic growth.
Bahrain joined the AIIB in 2018, three years after its establishment in 2015.
The bank aims to foster regional cooperation to tackle development challenges and financial crises and support economic growth and infrastructure development throughout Asia.
The AIIB currently has 110 member countries and focuses on investing in infrastructure, energy, transportation, telecommunications, agricultural development, logistics, and urban development.
Source: Bahrain News Agency