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SRCIC Delegation attend the 2nd Annual Meeting of the Board of Governors of AIIB
27 Jun 2017

 

Mr. Sergio Ortiz-Luis Jr., Honorary Chairman of Philippine Chamber of Commerce and Industry, Mr. Jemal Inaishvili, Honorary Chairman of SRCIC, Mr. Francis Chua, Vice-Chairman of SRCIC and Chairman Emeritus of Philippine Chamber of Commerce and Industry, and Mr. Mingdeng Zhuang, Secretary-General of SRCIC the Philippines. (from left to right)

 

On June 16, 2017, the 2nd Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) was held in Jeju, the Republic of Korea, with the topic of sustainable infrastructure. Mr. Jemal Inaishvili, Honorary Chairman of SRCIC, Mr. Jean-Guy Carrier, Executive Chairman of SRCIC, and Mr. Francis Chua, Vice-Chairman of SRCIC attended the meeting.

 

Over 2,000 participants attended the meeting, including governors, delegates, and representatives from international organizations, academic institutes. H.E. Mr. Moon Jae-in presented at the Opening Ceremony and delivered a speech. H.E. Mr. Jie Xiao, Minister of Finance of the Government of the People’s Republic of China attended the meeting as the Governor of China. In Mr. Jin Liqun’s speech, he noted that the AIIB will develop infrastructure for economic and social growth to deal with challenges in a collaborative manner.

 

Mr. Yuanjiang Sun, Principal Communication Officer of AIIB (left), Mr. Jemal Inaishvili, Honorary Chairman of SRCIC and Mr. Jean-Guy Carrier, Executive Chairman of SRCIC (right).

 

During the meeting, delegates of the SRCIC held talks with Mr. SUN Yuanjiang, Principal Communication Officer of AIIB. Mr. Carrier, Executive Chairman of SRCIC, introduced SRCIC and expressed the expectation to establish long-standing collaboration with AIIB. Mr. Sun introduced the investment and selection criteria of projects of AIIB and said that the two parties have further scope for strengthening cooperation.

 

Besides, under the coordination of Mr. Francis CHUA, Vice-Chairman of SRCIC, the SRCIC delegation held talks with H.E. Carlos G. Dominguez III, Secretary of Department of Finance of the Philippines, and Mr. Raul Hernandez, Ambassador of the Philippines in Seoul. Mr. Inaishvili and Mr. Carrier introduced the SRCIC and Silk Road International Development Fund, and invited H.E. Minister of Finance to attend the 2017 Xi’an Silk Road Business Summit and Silk Road International Culture Week on 9th September 2017 at Tang West Market, Xi’an, China.

 

On 2nd March, 2017, Mr. Jianzhong Lu, Chairman of SRCIC had a productive meeting with Sir Danny Alexander, Vice President and Corporate Secretary of AIIB. Both parties agreed to establish an effective working mechanism and the SRCIC was invited to attend the 2nd Annual Meeting of the Board of Governors of the AIIB in Jeju, the Republic of Korea on 16th – 18th June 2017.

 

OUTCOME OF THE MEETING

 

On the day of Opening Ceremony, Argentina, Tonga, Madagascar gained their admission to membership in AIIB. So far, the AIIB has 80 members. In the meeting, AIIB approved three new projects that amount to a total of approximately 324 million USD. One of them is to provide equity investment worth 150 million USD to Indian Infrastructure Fund, while the other two are financing projects implemented jointly with World Bank. The meeting decided the 3rd Annual Meeting of the Board of Governors of the AIIB would be held in Mumbai, India on 25th – 26th June 2018.

 

In the Investment Forum for Developing Countries, senior government officials from Indonesia, Myanmar, Bangladesh, Vietnam and Turkey released their infrastructure development plan and major projects. The Republic of Korea introduced “Smart cities”, Carbon-free project of Jeju and green energy policy. And infrastructure enterprises, financial institutions, governments and public institutions have conducted 150 business meetings.

 

Source: www.cctv.com & www.mofcom.gov.cn