The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) concluded the 2023 AIIB Annual Meeting in Sharm El Sheikh, Egypt on Septmeber 30, marking the handover to the host country for the 2024 meeting, Samarkand, Uzbekistan.
Handover Ceremony
A ceremonial transfer took place in Sharm El Sheikh, Egypt, signifying the transition of responsibilities from Egypt to Uzbekistan as the host of the 2024 AIIB Annual Meeting. Mr. Laziz Kudratov, AIIB Governor for Uzbekistan, Chair of the AIIB Board of Governors for 2024, and host of the 2024 AIIB Annual Meeting, received the symbolic gavel from Dr. Mohamed Maait, AIIB Governor for Egypt, Chair of the AIIB Board of Governors for 2023, and host of the 2023 AIIB Annual Meeting.
AIIB President's Remarks
AIIB President and Chair of the Board of Directors, Jin Liqun, expressed his appreciation as follows:
"We appreciate the continuing support from both the Governments of Uzbekistan and Egypt."
He also emphasized the importance of AIIB's Annual Meetings, stating,
"The AIIB Annual Meetings are an important opportunity to seek invaluable insights and guidance from our shareholders on our Bank’s strategic direction and initiatives. Regular engagement with our shareholders has been essential for promoting transparency and cooperation, which underpins AIIB’s rapid strong growth."
AIIB Vice President's Remarks
AIIB Vice President and Corporate Secretary, Dr. Ludger Schuknecht, acknowledged the contribution of the host countries, saying,
"The success of our Annual Meetings is due to the unwavering support of our hosts, who generously facilitate engagement and enable open discussions on issues of global concern."
Uzbekistan's Host Role
Mr. Laziz Kudratov, Chair of the AIIB Board of Governors for 2024, expressed his anticipation for the 2024 AIIB Annual Meeting in Samarkand, stating,
"We are delighted to extend a warm welcome to AIIB and our esteemed fellow Members to Samarkand for the 2024 AIIB Annual Meeting."
He also emphasized the significance of the event, saying,
"This event will also be a valuable opportunity for us to showcase our strong partnership with AIIB and highlight the Bank's remarkable contributions in Uzbekistan as well as in Central Asia."
Financial Data
AIIB's investments in Azerbaijan have surpassed USD 700 million. The bank's flagship project in the country involved USD 600mn in financing towards the Trans-Anatolian Natural Gas Pipeline (TANAP) project. Additionally, AIIB provided USD 100mn through its COVID-19 Active Response and Expenditure Support (CARES) Program to support the government's fiscal stimulus measures. These measures aimed at mitigating the negative effects of COVID-19 on the population's health, incomes, and providing economic opportunities while ensuring macroeconomic stability.
The 2023 AIIB Annual Meeting in Sharm El Sheikh, Egypt, marked the end of a successful event and the transition of responsibilities to Uzbekistan, the host country for the 2024 AIIB Annual Meeting in Samarkand.
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