Free Press Journal

PM Narendra Modi to inaugurate third AIIB annual meet on Jun 26


P M Modi emplanes for China

New Delhi: Prime Minister Narendra Modi will inaugurate third annual meeting of Asian Infrastructure Investment Bank on June 26 in Mumbai, which will discuss ways to expand infrastructure investment in the region, among other things.

The theme for this year’s meeting is ‘Mobilizing Finance for Infrastructure: Innovation and Collaboration’ that will see leaders from various organisations and levels of government to share ideas and experiences for creating a sustainable future through sound infrastructure investment, the finance ministry said in a statement.

It is to be noted that Department of Economic Affairs under the finance ministry, the Centre and the Asian Infrastructure Investment Bank (AIIB) will jointly host the third annual meeting on June 25-26, 2018 in Mumbai.

India is the second largest shareholder in the Beijing-headquartered lender and already the largest borrower, accounting for commitments to the tune of USD 1.2 billion of the overall USD 4.5-billion committed so far.

It further said this year will also see the launch of the Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs.

The two-day meeting will witness the presence of top policy makers, ministers from AIIB members, participants from partner institutions, the private sector and civil society organisations, it said.

Moreover, leading experts from a range of fields will be present to lead discussions and share insights on addressing Asia’s infrastructure gap in an environmentally and socially friendly way, it said.

Apart from the prime minister, Finance Minister Piyush Goyal and Economic Affairs Secretary Subhash Chandra Garg will also be present during the course of the meeting to discuss the environmental landscape of investing in infrastructure plans in India and also share an overview about the annual meet.

During the annual meeting, there will be several seminars that focus on topics, including mobilising finance for infrastructure, gender and infrastructure, and connectivity within and beyond Asia, it said.

There will also be Host Country Seminars on topics, including the sources and instruments of financing and new technology choices and alternatives, and a panel discussion with chief ministers on the vision of infrastructure development in India, it said.