 "Nirmala Sitharaman urges AIIB to support low-income nations, strengthens ties with Qatar amid India’s booming economy.")
Union Finance Minister Nirmala Sitharaman urged the Asian Infrastructure Investment Bank (AIIB) to maintain a client-centric approach, especially for low-income countries, to access financial resources and technical assistance. During a meeting with AIIB President Jin Liqun prior to the 9th Annual Meeting of Board of Governors, she praised the bank’s rapid growth over nine years. India, as a major shareholder and client, is committed to strengthening ties with AIIB. Sitharaman also met Qatar Finance Minister Ali bin Ahmed Al Kuwari to discuss enhancing bilateral trade, investments, and digital infrastructure, highlighting India’s status as the world’s fastest-growing economy and a prime destination for Qatari investments across various sectors.
Union Finance Minister Nirmala Sitharaman has emphasized the importance of the Asian Infrastructure Investment Bank (AIIB) focusing on a client-centric approach, especially for low-income member countries. Speaking during a meeting with AIIB President Jin Liqun ahead of the bank’s 9th Annual Meeting in Samarkand, Uzbekistan, she highlighted the need for these nations to access financial resources through technical assistance.
Sitharaman praised AIIB’s impressive growth in its lending operations over just nine years and urged the bank to continue its support for developing countries. As one of the largest shareholders and clients, India has a significant stake in the AIIB, owning 83,673 shares with a capital of $8.4 billion, while China holds 297,804 shares amounting to approximately $29.8 billion.
In addition to her meeting with the AIIB, Sitharaman also spoke with Qatar’s Finance Minister, Ali bin Ahmed Al Kuwari, discussing topics like bilateral trade, investments, and digital public infrastructure. She noted India’s rapid economic growth, which makes it an attractive destination for Qatari investments in various sectors, including energy and logistics. The two officials agreed to collaborate on enhancing cross-border payment systems and finalizing a bilateral investment treaty.
Through these discussions, the Indian government is actively working to strengthen economic ties with both AIIB and Qatar, showcasing its commitment to fostering global partnerships.
Tags: Nirmala Sitharaman, AIIB, Finance Minister, Infrastructure Investment, India-Qatar Relations, Economic Growth, Bilateral Trade, Financial Assistance, Uzbekistan Summit.
What is AIIB?
The AIIB, or Asian Infrastructure Investment Bank, is a bank that helps countries finance projects, especially in Asia, to improve infrastructure and support development.
Why does the Finance Minister ask AIIB for help?
The Finance Minister is asking AIIB to help low-income countries get financial resources. This support can help them build important projects like roads, schools, and hospitals.
How can low-income countries benefit from AIIB’s assistance?
Low-income countries can get loans and funding from AIIB to improve their infrastructure and public services, which can boost their economies and improve people’s lives.
What types of projects does AIIB usually fund?
AIIB often funds projects related to transportation, energy, water supply, and urban development. These projects are important for economic growth and development in countries.
Is there any connection between AIIB and other international financial institutions?
Yes, AIIB works alongside other international financial institutions like the World Bank and the Asian Development Bank. They often collaborate on projects to maximize resources for countries in need.
