Multilateralism key to navigating global challenges: AIIB president

BEIJING, June 23 (Xinhua) -- In the face of mounting challenges to global development, Asian Infrastructure Investment Bank (AIIB) president Jin Liqun believes that multilateral cooperation remains the surest route forward.

"The essence of multilateralism lies in cooperation that benefits all," Jin told Xinhua in an exclusive interview ahead of AIIB's 10th Annual Meeting of the Board of Governors, scheduled for June 24 to 26 in Beijing.

"As a multilateral institution, AIIB aims to serve as a bridge for both North-South and South-South collaboration," he said.

Founded in 2015 with 57 members, AIIB has grown to 110 members worldwide. Over the past decade, it has approved over 60 billion U.S. dollars in financing for 320 projects, mobilizing more than 200 billion dollars in infrastructure investment.

"Asia cannot thrive in isolation," Jin said, noting that while the bank's primary focus is Asia, its work also supports broader cooperation that contributes to meaningful development outcomes around the world.

Jin attributes the bank's progress to its strong commitment from the start to high standards and sound governance.

"We built AIIB to be lean, clean, and green, and these core values have resonated widely among our members," he said. "From day one, we embedded best practices drawn from other multilateral development banks into our policies and governance framework."

AIIB's project design emphasizes tangible and inclusive development outcomes. "Every project must meet a set of integrated goals, from boosting economic growth to creating job opportunities for women and low-income groups, and contributing to environmental sustainability," Jin noted.

He also emphasized the growing importance of digital transformation in infrastructure development.

The bank is increasingly helping its members embrace the digital era. Last year, AIIB launched InfraTech Portal, a digital platform that shares comprehensive, neutral, and free information on infrastructure technologies.

"Artificial intelligence holds vast potential and offers developing countries an opportunity to leap ahead in their development," said Jin.

"That's why our infrastructure investments must evolve with the times. We should ensure that emerging technologies like AI help narrow, not widen, the digital divide -- especially for the developing world," he added.

Looking back at AIIB's first decade, the bank has achieved remarkable milestones. As of the end of May, the bank had issued over 54 billion U.S. dollars equivalent bonds across multiple currencies and has consistently maintained triple-A credit ratings from Moody's, S&P, and Fitch.

"Recognition from the capital markets is one of the highest forms of validation for a financial institution," he said.

As AIIB enters its second decade and prepares for a leadership transition, Jin called for a renewed commitment to multilateral cooperation and shared development. "This annual meeting is not only a moment for reflection, but more importantly, a time to look ahead," he said.

"The more consensus we build, the easier it becomes to face the current global challenges," he noted.  ■