The Ninth Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) featured a session dedicated to “Best Practices for Resilient Cross-Border Connectivity in Central Asia.” This session brought together experts and stakeholders to discuss the critical aspects of transport and energy infrastructure development in a region known for its strategic importance as a bridge between Asia and Europe.
Key speakers at the session included Wang Zhongjing, CEO of the Multilateral Cooperation Center for Development Finance; May Ali Babiker, Regional Manager of the Islamic Development Bank (IsDB); Konstantin Limitovskiy, AIIB VP for Investment Clients Region 2 and Project and Corporate Finance; Curtis S. Chin, Chair Global Fellows and Senior Advisor at the Milken Institute; Sulton Rahimzoda, Chairman of the State Committee on Investments and State Property Management of Tajikistan; Ruslan Tatikov, Deputy Minister of Finance of Kyrgyzstan; and Jon Zaidi, Country Head for Uzbekistan at ACWA Power.
Central Asia serves as a crucial transportation and energy hub, yet its landlocked countries face significant challenges, including high transportation costs and fragmented electricity grids. These obstacles hinder economic integration and cooperation among nations.
“Improving infrastructure connectivity and promoting regional cooperation are central to AIIB’s mission and are vital for boosting competition, productivity, and growth in Asia, particularly in Central Asia,” stated Konstantin Limitovskiy.
He emphasized AIIB’s commitment to strategically investing in infrastructure to enhance domestic and cross-border connections, thereby supporting projects that encourage regional integration.
Jon Zaidi echoed this sentiment, highlighting the increasing enthusiasm in the region surrounding renewable energy initiatives.
“We are very excited to have this discussion about increasing opportunities for partnerships between governments and the private sector. We can position Central Asia as the future hub of renewable energy,” he remarked.
During the session, participants explored how multilateral development banks can collaborate with regions to mobilize capital from international financial institutions and the private sector. The discussion included examples of successful infrastructure projects that have improved cross-border connectivity, facilitating trade and investment. The role of international financial institutions (IFIs) in the design, planning, and implementation of these projects was also highlighted.
The session concluded with a consensus that successful cross-border infrastructure development in Central Asia requires a concerted effort from multilateral financial institutions and the private sector, along with collaboration with neighboring regions. This cooperation is essential to promote sustainable economic development and enhance integration between Asia and Europe.
As Central Asia continues to navigate its unique challenges, the insights shared at this session are poised to shape the future of infrastructure development and regional cooperation.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)