Minister for Finance Edward Scicluna participated and addressed the 2018 Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) which was held in Mumbai, India between the 24th and 26th June. The AIIB today consists of 86 members, including regions that span beyond Asia.
PRESS RELEASE BY THE MINISTRY FOR FINANCE
In his address Minister Scicluna commended the Bank’s relentless drive in promoting sustainable development and prosperity in Asia which has been reflected in the increased number of approved projects by the Bank with many of these projects in conjunction with other Multilateral Development Banks (MDBs). He also noted that the AIIB has continued to foster an ever-growing collaboration with other MDBs and in so doing tapping the vast experience which these MDBs have acquired over the years. The strong relationship between these two institutions will continue to promote sustainable economic development.
Minister Scicluna emphasised that Malta has supported and will continue to support the AIIB’s endeavour in making infrastructure investment in Asia more and more appealing to the private entrepreneur. The Minister noted that there was no doubt that the AIIB would succeed in its long-term strategy of being the market leader in this area and moreover a trusted partner in providing innovative infrastructure financing solutions to its member countries. He also said that Malta looked forward to the launch of the Asian Business Forum this year and hoped that this would provide constructive dialogue in providing an ideal platform for matching innovative financing with critical infrastructure needs.
Minister Scicluna concluded his address by reiterating Malta’s strong support to the AIIB and was confident that despite uncertainties that still prevail and the various challenges that the external environment poses the drive of the Bank and its staff would be instrumental in attaining its objectives.
The meeting was address by various other notable Governors form other member states and covered a vast array of topics linked directly to the function of the AIIB.
Minister Scicluna was accompanied by the Deputy Governor of the Central Bank of Malta, Mr. Alexander DeMarco.
Thursday 28th June 2018
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