Login With Google
Third AIIB Annual Meeting to be held in India
Why in the news ?
- The Department of Economic Affairs, Ministry of Finance, Government of India and the Asian Infrastructure Investment Bank (AIIB) will jointly host the third Annual Meeting of the Asian Infrastructure Investment Bank (AIIB).
More on news
- The meeting will be commenced with the leaders from varied organizations and levels of government to share ideas and experiences for creating a sustainable future through sound infrastructure investment.
- Theme for this year’s meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration."
- This year will also see the launch of the inaugural Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs.
- The top policy makers, Ministers from AIIB members, participants from partner institutions, the private sector and civil society organizations, will be the participants.
- Moreover, leading experts from a range of fields will be present to lead discussions and share insights on addressing Asia’s infrastructure gap in an environmentally and socially friendly way.
- During the Annual Meeting, there will be several seminars that focus on topics including mobilizing finance for infrastructure, gender and infrastructure and connectivity within and beyond Asia.
- The Department of Economic Affairs, Ministry of Finance, Government of India, in partnership with the Federation of Indian Chambers of Commerce & Industry (FICCI), is also organising an exhibition “India Infrastructure Expo 2018."
The objective of the exhibition is to offer companies from the public and private sector to showcase their latest solutions, technologies and offerings in the realm of infrastructure project development and delivery.
AIIB
- The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank headquartered in Beijing.
- Like other development banks, its mission is to improve social and economic outcomes in its region, Asia, and beyond.
- The bank opened in January 2016 and now has 86 approved members worldwide.
- Its purpose is to provide finance to infrastructure development and regional connectivity projects in Asia-Pacific region.
- China is largest shareholder of AIIB with 31.02% voting shares. India with 8.72% vote share is second largest shareholder followed by Russia, Germany and South Korea.
CII
- The Confederation of Indian Industry (CII) is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India's development process
- It was founded in 1895 and the premier business association has over 8,500 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 200,000 enterprises from around 265 national and regional sectoral industry bodies.
- CII charts change by working closely with Government on policy issues, interfacing with thought leaders, and enhancing efficiency, competitiveness and business opportunities for industry.
Source
PIB, AIIB, CII.