AIIB to focus on in information technologyinfrastructure

Almaty. January 6. Silkroadnews - The Asian Infrastructure Investment Bank (AIIB) is devoted to investment in informationtechnology, said the bank’s President-designate, Jin Liqun, in an article published Tuesdayby People’s Daily.
He elaborated in the article about AIIB’s mission, plans and key investment areas.
Jin explained the significance of internet-based information technology infrastructure andconnectivity, saying that they play a key role in transforming economy, promotingstrategic adjustment of economic structure and boosting innovation.
Against such a backdrop, the AIIB hopes to promote the integration of regional and globaleconomies and contribute to a new spree of technology innovation by capitalizing oninformation technology to boost online technology cooperation.
Motivated by the priorities of its members, infrastructure in information and relatedsectors will be prioritized in AIIB’s investments, the president-designate emphasized.
According to the article, such investments include fixed broadband networks, fiber optictelecommunication cables (especially cross-border land and sea cables), wireless sensornetworks, satellite services, new generation mobile telecommunication networks, cloudcomputing and big data platforms.
“The future Board of Governors will formulate policies based on the demand of membersto help break down digital barriers and cultivate a new pattern of economic growth,” Jinwrote in the article.
Moreover, the AIIB will put emphasis on sectors related to infrastructures andconnectivity in an orderly manner, he said, citing transportation, clean energy, urbaninfrastructure, agriculture and logistics as examples.
Jin also reiterated that the AIIB seeks to cooperate with its members and partnerorganizations through an inclusive, open and transparent philosophy.
As the first multilateral financial organization initiated and led by developing countries inAsia, the AIIB will uphold a principle of efficiency and transparency, he said.
Jin stressed that the bank is designed to provide financial support for infrastructuredevelopment and regional connectivity in Asia. It will also promote regional economicintegration and prosperity by utilizing financial tools such as loans, guarantees and equityinvestment.
The AIIB was officially established on Dec. 25, 2015. So far, 57 countries have signed theinter-governmental agreement, while more Asian and world economies are applying formembership.