DMPQ-Throw light on the Objectives and Accomplishments of AIIB (Asian Infrastructure Investment Bank).

Objectives of Asian Infrastructure Investment Bank

  • Promoting sustainable economic development, creating wealth, and augmenting infrastructure connectivity in Asia by investing in infrastructure & other productive sectors.
  • Fostering regional partnership & cooperation to address developmental challenges by working in tandem with other bilateral and multilateral developmental institutions.
  • Enhancing investment in private & public capital for development purposes.
  • Using the resources at its disposal for funding development in the region, including projects that will contribute to the balanced economic growth of the region.
  • Promoting private investment in enterprises, activities, and projects contributing to economic development in the region wherever private capital is not available.

 

The accomplishments of AIIB

  • Rapid growth: AIIB began operations in 2016 with 57 founding Members (37 regional and 20 non-regional). By the end of 2020, it had103 approved Members representing approximately 79% of the global population and 65% of global GDP.
  • Permanent observer status in the United Nations Highest credit rating by three major rating institutions- Standard & Poor’s, Moody’s, and Fitch.
  • This had helped expand its presence in international capital markets. The structured governance model provides good efficiency and accountability to the organization.
  • Strategies for all major infrastructure sectors and for investing in equity, mobilizing private capital, and financing operations in non-regional members have all been approved and being implemented.
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