The Asian Infrastructure Investment Bank (AIIB) intends to double its annual lending to approximately US$20 billion by 2030 as the Beijing-headquartered multilateral lender enters its second decade, its president said Monday.
AIIB President Zou Jiayi announced the target at the opening of the bank’s 11th annual meeting in Doha, Qatar, stating that member economies had expressed a “remarkably consistent” need for expanded project funding.
“They need more infrastructure and more financing to build it,” Zou told reporters at a press conference, adding that she had visited roughly 30 member countries since taking office.
Zou, a former vice-minister of finance in China, said member states increasingly view modern infrastructure as a “force of transformation” that can strengthen their economies over the long term rather than merely serving as physical assets.
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