1 day ago
Sitharaman Urges AIIB to Broaden Financing Beyond Physical Infrastructure
Nirmala Sitharaman met the president of the Asian Infrastructure Investment Bank in Doha.
She suggested that the bank support more than roads, buildings and other physical projects.
She proposed financing for artificial intelligence, small and medium-sized businesses, and worker training.
She said this could help India’s MSMEs use AI and develop skilled workers.
India is the second-largest shareholder in the bank, after China.
The two leaders also discussed the bank’s projects in India and its growing work around the world.
The bank’s president said AIIB would continue supporting projects for people, cities and the environment.
They also discussed the bank’s plans for its 2027 budget and future operations.
Finance Minister Nirmala Sitharaman urged AIIB to finance AI, MSMEs and skilling alongside physical infrastructure.
Sitharaman said support for AI adoption and workforce training could help India’s MSMEs.
She conveyed India’s support for AIIB’s 2027 budget plans and operational priorities.
Sitharaman emphasized that AIIB’s regional centrality should remain central to its mandate.
AIIB President Zou Jiayi said the bank would continue financing urban development, environmental protection and projects benefiting people.
- Who
- Finance Minister Nirmala Sitharaman and Asian Infrastructure Investment Bank President Zou Jiayi.
- What
- Sitharaman urged AIIB to expand financing beyond physical infrastructure to include AI, MSMEs and skilling.
- Where
- Doha.
- When
- Tuesday, during the sidelines of AIIB’s annual meeting.
- Why
- To help MSMEs adapt to AI, train workers and broaden the bank’s infrastructure financing focus.
Broader Financing Focus
Continued Core Infrastructure Mandate
Future financing priorities
Broader Financing Focus
Sitharaman argued that AIIB could move beyond physical infrastructure to support AI, MSMEs and skilling, including AI adaptability and manpower training.
Continued Core Infrastructure Mandate
Zou Jiayi emphasized that AIIB would continue financing projects for people, urban development and environmental protection, maintaining its established development role.
Institutional direction
Broader Financing Focus
India supported AIIB’s 2027 budget plans and encouraged scaling up operations in newer infrastructure areas.
Continued Core Infrastructure Mandate
Sitharaman also said AIIB’s regional centrality should remain a defining institutional characteristic and an anchor of its mandate.
Key facts
- Institution
- Asian Infrastructure Investment Bank (AIIB)
- India’s position
- Second-largest AIIB shareholder
- Largest shareholder
- China, with 26.54% of voting shares
- India’s voting share
- 7.58%
- Capitalisation
- USD 100 billion
- Approved members
- 111 worldwide
- AIIB headquarters
- Beijing
- Operational focus discussed
- AI, MSMEs, skilling, urban development and environmental protection
Quotes
Finance Ministry
India’s Finance Ministry, reporting Sitharaman’s remarks in an official statement
“The Union finance minister said AIIB could further expand beyond physical infrastructure financing to include newer infrastructure that focuses on AI, MSMEs, and skilling. She noted that MSMEs are the backbone of India's economy, and assistance for AI adaptability and manpower training can help MSMEs,”
deccanchronicle.com
Sources
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