Qatar Plays Important Role in Regional Development and Connectivity, AIIB President Says

Doha, September 28 (QNA) - HE President of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, said there is significant alignment between the bank's priorities and Qatar's development agenda, noting that Doha plays an important role in regional development and strengthening connectivity in the region.

Speaking at the opening of the 11th Annual Meeting of the AIIB Board of Governors and at a news conference held on the sidelines, Zou highlighted Qatar's role in bringing the bank's members together to keep development at the center of international cooperation. She said there is considerable scope for implementing additional projects in Qatar and supporting its development agenda, noting that the bank's mission of supporting infrastructure, regional connectivity and sustainable development aligns with Qatar's goals and National Vision 2030.

Qatar, as a founding member of the AIIB, is an important partner in development cooperation, the AIIB President said. The bank is prepared to support infrastructure needs in Qatar and the region, including connectivity in the transport sector, water-resource management, renewable energy and other areas, she added.

Zou said AIIB aims to substantially increase its annual financing to about $20 billion by 2030, as part of a strategy to expand its development impact through three main pillars: impact, innovation and integrity.

AIIB President Zou Jiayi said increasing the volume of financing would not come at the expense of project quality, stressing that the bank would continue to focus on delivering tangible results on the ground, as well as on modern 21st-century infrastructure, climate action and regional connectivity.

Climate-related financing accounted for 71 percent of the bank's ordinary financing last year, exceeding its annual target of 60 percent for the fourth consecutive year, she said.

On the future of infrastructure, Zou said modern technology and artificial intelligence would play an increasingly important role in project development, alongside the continued need for traditional infrastructure such as roads, railways, ports and airports.

The application of technology could include automating ports, developing intelligent transportation systems and improving urban management, as well as supporting efforts to protect nature, she said.

Infrastructure must respond to the challenges associated with climate change through investment in renewable energy, adaptation and climate-change mitigation projects, and by strengthening the resilience of infrastructure to disasters, she said.

The AIIB President also stressed the importance of developing digital infrastructure to enable broader use of artificial intelligence, emphasizing that the technology should benefit all countries and communities rather than a limited group.

Development depends on cooperation, she said, noting that infrastructure needs in member countries exceed the capacity of any single institution or public budget to meet them.

The bank will work closely with multilateral and bilateral development institutions, governments, markets and development partners to mobilize more private capital, she said. With 111 members from different regions and at different stages of development, the bank will continue to focus on Asia while strengthening its links with the rest of the world, she added.

The bank views infrastructure as a tool for transformation, rather than merely physical structures, Zou said. The infrastructure needs of member countries in energy, transport, water and digital transformation are growing, and the bank seeks to respond to those needs through financing and multilateral cooperation, she said.

Zou highlighted the AIIB's entry into its second decade, with the number of approved members reaching 111 and its infrastructure investment portfolio continuing to grow. Since its establishment, the bank has approved more than $79 billion in financing for more than 400 projects across 43 economies, while retaining AAA credit ratings from major international credit-rating agencies.

HE President of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, said, "Impact, innovation and integrity will shape the Bank's work. Impact means scaling up development value where infrastructure needs remain significant. Innovation means adapting the Bank's business model and financial instruments to better serve clients. Integrity means upholding high standards, sound banking principles and the Bank's mandate." (QNA)