$ 2 trn annual Asian infrastructure invesment needed from 2030: AIIB chief
27 Jun 2018
Between now and 2030, Asia investment in infrastructure must rise to $2 trillion a year, or roughly triple of what it has been in the past, said AIIB President, Jin Liqun, at the concluding day's annual meeting of the Asian Infrastructure Investment Bank (AIIB)
“Asian developing countries now account for 60 p[er cent of global growth, while roughly two-thirds of global trade is part of value-chains passing through Asia. Yet still today, 11 per cent of Asia’s population remains in poverty. It is against this backdrop that AIIB was formed. Economic openness and investment in infrastructure drew Asia’s growth in previous stages. Now, much more needs to be done to ensure the future continues to brighten for all of Asia”, Mr. Liqun added.
In conclusion, Liqun said ,”Solid global growth is crucial for our members to meet their objectives and an open trading system is a foundation of that global growth. I look forward to working with all of you towards this end”.
In the past, AIIB Annual Meetings have been held at Beijing, in 2016 and Jeju, Republic of Korea in 2017.