Finance Minister Urges AIIB to Prioritize Client-Centric Approach for Member Support

Finance Minister Nirmala Sitharaman emphasized the importance of a client-centric approach for the AIIB during a meeting with the bank's president. She highlighted the need for technical and financial assistance to low-income member countries while commending AIIB's rapid growth. Discussions also covered India's strong contributions and potential future collaborations.

Finance Minister Nirmala Sitharaman stressed the need for the Asian Infrastructure Investment Bank (AIIB) to maintain a client-centric approach, facilitating financial resources and technical assistance, particularly for low-income countries. She made these remarks during a meeting with AIIB President Jin Liqun before the 9th Annual Meeting of the Board of Governors in Samarkand, Uzbekistan.

During the discussion, Sitharaman praised the AIIB's swift expansion in lending operations over its nine-year existence. As the second-largest shareholder and largest client of the bank, India's significant contributions to the AIIB's governance and growth were acknowledged by President Liqun, who expressed a desire to deepen collaboration with India.

AIIB, established in January 2016 with 57 founding members including India and China, focuses on sustainable infrastructure development in Asia. India, owning 83,673 shares worth $8.4 billion, plays a pivotal role in the bank. Earlier, Sitharaman also met with Qatar's Finance Minister to explore potential investment opportunities in India's rapidly growing economy.

(With inputs from agencies.)