Lasha Khutsishvili, the Finance Minister of Georgia attended the 9th annual meeting of AIIB (Asian Infrastructure Investment Bank) in Uzbekistan. The meeting drew delegates from more than one hundred countries for two days to discuss a number of issues.
The theme of this year’s annual meeting was “Creation of sustainable infrastructure for absolutely everyone”. The minister explained to the world leader how Georgia is progressing toward the integration path for European Union.
The finance minister also attended the bank manager’s session here and outlined the significance of the middle corridor in enhancing regional connectivity.
“Since its establishment the bank has achieved significant success and continues to advance. The recent global challenges were difficult but the Asian Infrastructure Investment Bank in close cooperation with multilateral development banks also solved this effectively”, added the minister.
According to the Georgian minister diversifying financial flows and introducing responsible discipline in fiscal planning are very important. Clearly defined priorities and resource allocation for innovative infrastructure projects and human capital development will benefit all member countries.
Moreover, By investing in sustainable infrastructure and other productive sectors the Bank can positively impact the lives of billions of people today while contributing to a better future, he added.
In addition Minister added “I am sure that shortly with the bank’s financial support more innovative projects will be implemented. We also welcome the Bank’s growing efforts to strengthen support for green economy principles in member countries. Asia has a vital role in responding to global climate change and the Bank can significantly contribute to development projects including those in areas such as climate change and green energy.”
As noted by the Minister of Finance of Georgia diversification of financial resources and support of members is the tool that provides financing in local currency for individual projects and balances the risks arising from currency fluctuations.
He expressed his belief that the Asian Infrastructure Investment Bank is on the right track focusing on the most pressing priorities and remaining valuable to member countries. He also urged all member countries to strengthen the AIIB for common goals.
