MILAN, Apr 19 (Class Editori) – The Asian Infrastructure Investment Bank is ready to deepen its cooperation with Italian businesses. "The AIIB can offer fantastic opportunities to Italian companies, and we are working to make them available in the future as well," said Danny Alexander, Vice-President of the multilateral institution established in 2015 by the Chinese government – with Italy owning 2.7% of its capital.
After all, China-Italy cooperation in the context of the AIIB figures as one of the main topics in the recent MoU, signed on March 23th to set the tone of the two countries' collaboration plan unraveling along the New Silk Road. The institution, awarded a triple A by Moody’s, Fitch, and S&P, is considered – together with the Silk Road Fund – one of the financial pillar of the BRI Initiative, despite its efforts to get rid of this label and become a development promotion reality as much as the World Bank or the Asian Development Bank.
Its mission makes it for a good starting point, as it focuses on social and economic development in Asia, while paying particular attention toward sustainable infrastructures, cross-border connections, and the involvement of private capital. China, with its 30.9%, is the first shareholder, then followed by India (8.7%) and Russia (6.8%); aside from Italy, other participating EU countries are Germany (4.7%), France (3.5%), and the UK (3.2%).
From an Italian perspective, as Minister of Economy Giovanni Tria noted during his meeting with Alexander, "The AIIB can represent a reliable multilateral partner, siding up to the Asian Development Bank – the other big multilateral bank active in the Asian region – yet bringing some innovative and complementary strategic features to the table". Tria also added that he is "a firm believer in this bank’s role in supporting the development of the Asian region".
So the AIIB, led by Jin Liqun, has been in contact with Italy ever more frequently. This March, the undersecretary of economic development Michele Geraci met the top manager during the Bo'ao Forum, coming away with the knowledge that the bank is now ready to invest in Europe as well.
As already anticipated on classxhsilkroad.it, the AIIB board is considering an investment project for a private equity fund worth 3 billion dollars – which, potentially, will be directing its financial efforts regarding the telecommunication, energy and transport sectors toward Italy and all those other European countries with strong ties with Asia.
(Source:Class Editori)
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