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PM Narendra Modi to inaugurate 3rd AIIB annual meeting 2018

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond.

PM Narendra Modi to inaugurate 3rd AIIB annual meeting 2018

Prime Minister Narendra Modi. (Photo: AFP/File)

Prime Minister Narendra Modi will inaugurate the third annual meeting of Asian Infrastructure Investment Bank (AIIB) on June 25-26. The two-day meeting will be hosted by the Department of Economic Affairs, Ministry of Finance, in Mumbai.

In the past, AIIB annual meetings were held at Beijing, China, and Jeju in 2016, Republic of Korea in 2017.

What is AIIB?

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The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, AIIB commenced operations in January 2016 and have now grown to 86 approved members from around the world.

The theme for this year’s meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration” that will see leaders from varied organisations and levels of government to share ideas and experiences for creating a sustainable future through sound infrastructure investment.

The two-day meeting will witness the presence of top policy makers, Ministers from AIIB member countries, participants from partner institutions, the private sector and civil society organisations.

Interim Finance Minister Piyush Goyal and Secretary, Department of Economic Affairs Subhash Chandra Garg will be present during the course of the meeting, to discuss the environmental landscape of investing in infrastructure plans in India and also share an overview about the third annual meeting.

In the run up to the annual meeting 2018, the Government of India has organised a number of events in different cities in India from February to June 2018, aimed to stimulate debates on several important themes of infrastructure.

This year will also see the launch of the inaugural Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs.

During the AIIB Annual Meeting, the government of India would hold number of events aim to capture the critical dimensions of infrastructure financing and panel discussion with Chief Ministers on vision of infrastructure development in India.

The Department of Economic Affairs, Ministry of Finance, in partnership with the Federation of Indian Chambers of Commerce & Industry (FICCI), is also organising an exhibition “India Infrastructure Expo 2018” that will run in parallel to the third Annual Meeting of the Asian Infrastructure Investment Bank.

The objective of the exhibition is to offer companies from the public and private sector to showcase their latest solutions, technologies and offerings in the realm of infrastructure project development and delivery.

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