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AIIB investments for transport industry projects in Belarus under consideration

Economy 16.07.2019 | 19:57
Photo courtesy of the Asian Infrastructure Investment Bank
Photo courtesy of the Asian Infrastructure Investment Bank

MINSK, 16 July (BelTA) – The possibility of the Asian Infrastructure Investment Bank (AIIB) financing transport industry projects in Belarus was discussed at the latest annual meeting of the AIIB Board of Governors in Luxembourg. Belarusian Economy Minister Dmitry Krutoi took part in the meeting, the press service of the Belarusian Economy Ministry told BelTA.

During the meeting members of the Belarusian delegation met with top managers of the Asian Infrastructure Investment Bank: Vice President for Investment Jagatheesa Pandian, Vice President for Corporate Affairs Danny Alexander, Senior Advisor to the AIIB President Konstantin Limitovskiy, Director General for Investment Operations Supee Teravaninthorn, and Member of the Board of Governors (Russia) Grigory Butrin.

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution established upon China's initiative. The bank began operating in January 2016 and has 100 approved member countries today. The largest shareholders of the bank are China, India, and Russia. Among other things the AIIB is supposed to facilitate sustainable economic development and improvement of business ties in Asia by investing in infrastructure and other manufacturing sectors of the economy in addition to stimulating regional cooperation. Priority areas of financing include power engineering, transport, water supply and water treatment, urban development, and infrastructure. Considerable attention is paid to environmental protection projects. The AIIB's total investments in 2018 reached $7.5 billion.

Belarus became an AIIB member on 17 January 2019. The annual meeting of the AIIB Board of Governors in Luxembourg was the first time Belarus' representatives had taken part in AIIB events.

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