Kuwait participates in the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank

Kuwait participated in the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), held in the Qatari capital, Doha, under the patronage and presence of Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar, and Zou Jiabei, President of the AIIB. The Kuwaiti delegation was led by Minister of Finance Dr. Yaqoob Al-Sayed Yousef Al-Rafai, with the participation of Kuwait’s Ambassador to Qatar, Ahmed Al-Sharim, alongside finance ministers serving as governors, delegations from member states, senior experts, private sector leaders, and civil society organizations.

The meeting was held under the theme “Infrastructure for Tomorrow: Impact and Innovation.” This year’s sessions hold particular significance as they mark a key milestone in the AIIB’s transition into its second decade, amid rapid economic and financial changes that necessitate strengthening the role of development finance institutions, developing their tools and operational mechanisms to better respond to the needs of member states, and supporting sustainable and innovative infrastructure projects to achieve greater developmental impact.

Additionally, these meetings coincide with the tenth anniversary of the Bank’s operations, representing a checkpoint to evaluate past achievements, outline priorities for the next phase, and chart the strategic direction for the Bank’s second decade. The meeting highlights the pivotal role of the Middle East region in enhancing inter-regional connectivity and cooperation.

The Minister of Finance participated in a dedicated session of the Board of Governors, where decisions regarding the Bank’s operations and its strategic initiatives for the coming years were approved. He also took part in a roundtable discussion with other ministers and governors of the AIIB, delivering a speech in which he emphasized Kuwait’s conviction in the importance of development banks in addressing economic shifts that have cast shadows over many countries, affecting development trajectories and economic growth rates. He stressed the need to enhance coordination and cooperation among international financial institutions to bridge financing gaps, unify efforts to support member states in implementing their development projects, and provide the necessary technical assistance and expertise to prepare bankable and executable projects, thereby contributing to sustainable developmental impact.

The Kuwaiti delegation, led by the Minister of Finance, included Saad Al-Rashidi, Director General of Economic Affairs and Second Alternate Executive Director on the Board of Directors of the AIIB; Ibrahim Al-Filikaawi, Director of the International Economic Cooperation Department; and several officials from the Kuwait Fund for Arab Economic Development.

Kuwait’s participation in the forum underscores its commitment to enhancing its role and contribution to the Bank’s work, as well as strengthening partnerships with international and regional financial institutions.