Infoquest, (July 16, 2019) -- Mr. Pornchai Thiravech, financial economic adviser and spokesman for the Office of Fiscal Policy (FPO) revealed that Mr. Loran Saengsanit, director of the office attended the fourth annual meeting of Asian Infrastructure Investment Bank (AIIB) held in Luxembourg on July 12-13, 2019. The meeting covered the following issues.
1. The theme of the meeting is "Cooperation and Connectivity". This was the first time that the annual meeting was held beyond Asia. Luxembourg was the first European country to join the AIIB.
2. The meeting focused on "cooperation and connectivity" amid various challenges facing the world today, such as the global economic slowdown, trade barriers, geopolitical tensions, and rising borrowing costs. Currently, the need for long-term funds to invest in infrastructure continues to climb, and international cooperation under multilateral mechanisms is an important part for establishing connectivity, especially in supporting high-quality and sustainable infrastructure development under the G20 framework.
3. Significant initiatives dedicated to establishing connectivity among Asian regions and between Asia and Europe were discussed at the meeting too, with digital connectivity at the top of the agenda for the organizer. And attendees exchanged views on the core of building digital connectivity, that is, digital infrastructure.
4. During the meeting, the progresses of undertakings under the AIIB were reported. So far, the AIIB has approved 45 investment projects in 17 countries, with a total value of 8.48 billion U.S. dollars. Of these, ASEAN countries receiving investment from the AIIB include Indonesia, the Philippines, and Cambodia. The meeting also approved the AIIB membership applications of Benin, Djibouti and Rwanda. And now the AIIB has 100 member states.
5. The next annual meeting of the AIIB will be held in the new AIIB office building in Beijing, China on July 2-3, 2020.
Source: InfoQuest, by Kasamarporn/Rachada, translated by Xinhua Silk Road
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