Your Excellency Li Qiang, Premier of the People’s Republic of China, Distinguished Governors, Honored Guests, Ladies and Gentlemen, Friends:
It is an immense honor to welcome you all to the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB).
On behalf of AIIB, I extend my deepest appreciation to the People’s Republic of China for the extraordinary hospitality offered to our delegations here in Beijing, as we come together to celebrate the Bank’s 10th anniversary.
Your Excellency, Premier Li, I would like to thank you on behalf of AIIB – and through you, the Chinese government – for the unwavering support AIIB has enjoyed from the very outset. I would also like to thank Finance Minister Lan for his leadership, and for the important role the Ministry of Finance has played as the lead agency for the Bank. My thanks also go to the Beijing Municipal People’s Government for the excellent arrangements for this annual meeting, in close collaboration with the Ministry of Finance.
At the signing ceremony for the Bank’s establishment in Beijing in September 2015, President Xi emphasized that AIIB must be governed by high standards and run according to international best practices, as befits a true multilateral institution.
Ten years later, the vision articulated by President Xi, and shared by the leaders of all our members – has been translated into a tangible reality. We have come a long way, united by a shared mission to finance Infrastructure for Tomorrow in Asia and beyond.
Over its first decade, AIIB has built and sustained its reputation as a pillar of multilateralism, a steadfast supporter of regional and global connectivity, and a champion of cooperation between developed and developing economies.
With 110 members and 700 staff from 78 economies, the Bank has provided more than USD61 billion in financing for more than 320 projects across 38 members, covering key infrastructure sectors such as transport, energy, water, urban, digital, and healthcare. AIIB’s strong support for our members in their efforts to grow and to green their economies has brought tangible benefits to the people of our client members.
In 2024, we returned fully to regular operations after sunsetting the COVID-19 Crisis Recovery Facility. AIIB approved USD8.4 billion in financing across 51 projects, a 47% increase from 2023. Of these projects, 76% demonstrated strong gender integration, with 67% including gender indicators. All of this was achieved amidst tough global headwinds.
Our financing since 2016 is expected to:
- Build or upgrade 51,000 kilometers of road or rail
- Enable nearly 1 billion passenger journeys
- Deliver improved irrigation to 22 million people
- Develop over 21 gigawatts of new renewable energy capacity
- Reduce 28.5 million tons of CO₂ emissions in the energy sector, to name just a few indicators.
These statistics tell only part of the story. Infrastructure isn’t measured only in kilometers and kilowatts, but in lives transformed.
Amidst global uncertainty, AIIB stands as a beacon of stability. Just this week, our Board approved an update to our Corporate Strategy, reaffirming the Bank’s core focus on financing the Infrastructure for Tomorrow – infrastructure that is green, connected, technology-enabled and that can mobilize private capital.
This Strategy is ambitious. By 2030, we aim to grow our annual financing to approximately USD17 billion, including financing directly mobilized from the private sector. Climate finance and private sector finance will each account for 50% of our annual financing, while cross-border connectivity will represent 20-25%.
We are right on track. In 2024, 67% of our financing was directed toward climate-related initiatives, 34% toward nonsovereign investments, and 33% toward cross-border connectivity.
Our lean business model works well. In 2024, the Bank generated USD1.1 billion in operating profit. Since 2022, administrative expenses have been fully covered by operating income, a sign of the enduring resilience of AIIB’s business model despite market fluctuations.
Global markets have confidence in our approach. Since 2016, AIIB has raised over USD54 billion in bond issuances across 20 currencies. Our robust financial position helps with fundraising at the lowest possible cost, thereby benefitting our clients.
At AIIB, decision-making is consensus-oriented, underpinned by a stringent Accountability Framework that clearly delineates the roles of the Board of Directors and Management. This ensures a strategic, effective Board that provides effective supervision over the Management team, including an annual 360-degree performance assessment of the President.
The Management attaches great importance to the development impact of our investments and maintains an open dialogue with civil society organizations. AIIB’s corporate culture values collaboration, mutual respect and harmony, with the Staff Council serving as a bridge between staff and Management.
We maintain our unyielding commitment to integrity, transparency, inclusiveness, and a results-oriented approach. Corruption is not to be tolerated. Oversight is both rigorous and independent. The Compliants-resolution, Evaluation, and Integrity Unit supports the Board in its oversight role, with its Managing Director reporting directly to the Board. The Chief Ethics Officer’s mandate covers staff, Management, and the Board alike, ensuring that misconduct, if any, will not go unchecked. Internal and external audits are implemented without compromise, and the Chief Internal Audit Officer has full access to information in discharging their duty.
Excellencies, this will be my final Annual Meeting as President – on Jan. 16, 2026, it will be time for me to pass the baton to the newly elected president.
I would like to take this opportunity to express my deepest gratitude to our Board, the Management team, and all staff members. The Bank’s success is shared by everyone who has provided their unqualified support to get the job done and render AIIB as a well-known, recognized multilateral development bank fit for the 21st century.
I must also acknowledge the invaluable support the Bank has received from the Chinese Ministry of Finance, the Ministry of Foreign Affairs, and the Beijing Municipal People’s Government, amongst many others, for making Beijing a home away from home for our diverse staff.
Challenges will no doubt continue to arise – as they always do – but I have every confidence that, with the new president in charge, and under the guidance of the Board of Directors and Board of Governors, the Bank will continue to move forward on the right track into its second decade.
Thank you very much.
