Finance Minister Nirmala Sitharaman has suggested that the Asian Infrastructure Investment Bank expand beyond physical infrastructure financing to include newer areas focused on artificial intelligence, MSMEs and skilling. Pasted text
Finance Minister Nirmala Sitharaman met Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi on the sidelines of the bank’s annual meeting and discussed expanding its financing priorities.
Sitharaman suggested that AIIB could move beyond conventional physical infrastructure and increase its focus on newer infrastructure linked to AI, Micro, Small and Medium Enterprises and workforce skilling.
According to the Finance Ministry, Sitharaman described MSMEs as the backbone of India’s economy and said assistance for AI adaptability and manpower training could support these enterprises.
The two leaders also discussed AIIB’s pipeline of projects in India and the multilateral development bank’s expanding global presence.
Sitharaman congratulated the bank on its performance during the first half of the year and conveyed India’s support for AIIB’s 2027 budget plans and focus areas for scaling up operations. She also reiterated that regional centrality should remain an important characteristic of the institution’s mandate.
AIIB President Zou Jiayi said the bank would continue financing projects focused on people, urban development and environmental protection. She also recalled her previous visits to project sites in Delhi and Meerut.
India is AIIB’s second-largest shareholder after China. According to the bank’s official records cited in the report, China holds 26.54% of voting shares, followed by India with 7.58%, Russia with 5.9% and Germany with 4.1%.
The Beijing-headquartered AIIB began operations in 2016 and currently has 111 approved members worldwide. The bank is capitalised at $100 billion and is AAA-rated by major international credit rating agencies. Pasted text
