Kuwait participates in the 11th Annual Meeting of the Asian Infrastructure Investment Bank Governors' Board
Doha, September 28 (KUNA) – Kuwait participated today, Monday, in the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), led by a delegation headed by Minister of Finance Dr. Yaqoub Al-Rafai. The two-day meeting was hosted and attended by Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani, and AIIB President Zou Jiayi. It also included the participation of Kuwait’s Ambassador to Qatar, Ahmed Al-Sharrah, alongside finance ministers, governors, delegations from member countries, senior experts, private sector leaders, and civil society organizations.
Held under the theme “Infrastructure for Tomorrow: Impact and Innovation,” this year’s meetings hold particular significance as a key milestone marking the AIIB’s transition into its second decade. This phase is characterized by rapid economic and financial changes that necessitate strengthening the role of development finance institutions, developing their tools and operational mechanisms, and enabling them to respond to the needs of member countries, support sustainable and innovative infrastructure projects, and achieve greater developmental impact.
These meetings coincide with the 10th anniversary of the Bank’s operations, representing a checkpoint to evaluate 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.
Minister Al-Rafai participated in a session dedicated to the Board of Governors, during which decisions related to the Bank’s operations were adopted and its strategic initiatives for the coming years were reviewed. He also took part in a roundtable discussion alongside ministers and governors of the AIIB.
In his address, Minister Al-Rafai reaffirmed Kuwait’s conviction regarding the importance of the role played by development banks in addressing economic changes that have cast shadows over many countries, affecting development trajectories and economic growth rates. He emphasized the necessity of enhancing coordination and cooperation among international financial institutions to bridge financing gaps, unify efforts in supporting member countries, and enable them to implement their development projects. He also stressed the need to provide technical support and necessary 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 Alternate Executive Director on the Board of Governors 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 meeting aligns with its commitment to enhancing its role and contribution to the Bank’s work, as well as strengthening partnerships with international and regional financial institutions.
Qatari Minister of Finance and Chairman of the AIIB Board of Governors for 2026, Ali Al-Kuwari, stated in his opening address that Qatar was among the founding members of the Bank in 2015, driven by the belief that Asia needed a new institution focused on infrastructure development, governed by the highest standards, and open to the entire world. He added that after 11 years, with the Bank’s membership reaching 111 members and approved financing totaling approximately $70 billion, this conviction has been proven correct.
For her part, AIIB President Zou Jiayi affirmed that the Bank aims to expand its developmental impact and nearly double its annual financing volume by 2030, reaching approximately $20 billion, with a focus on financing future infrastructure. She noted that the Bank’s objective in the coming phase is to broaden its developmental impact through innovation and integrity, explaining that achieving this goal requires increasing the Bank’s business volume and leveraging areas where it holds a comparative advantage.
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