Afghanistan’s entry to AIIB ‘paves the way for major national projects’

Afghanistan has become the 80th member of the Asian Infrastructure Investment Bank (AIIB).

Afghanistan’s entry to AIIB ‘paves the way for major national projects’

23/10/17

Afghanistan has become the 80th member of the Asian Infrastructure Investment Bank (AIIB), receiving formal membership during a financial summit in Washington DC.

According to a statement by the Afghan Ministry of Finance, Afghanistan’s membership of the AIIB ‘paves the way for the implementation of major national projects.’

Afghanistan’s Finance Minister, Eklil Hakimi, met with Jin Liqun, President of the AIIB, in Washington, where they discussed ‘financial and technical facilities for solar energy [and] railway connectivity of 5 countries (Afghanistan, Kyrgyzstan, Tajikistan, Iran and China)’, the statement says.

The China-led AIIB is expected to grow its membership to around 90 by the end of 2017, according to the South China Morning Post, which cites China’s attempts to ‘expand its influence in Afghanistan through economic and diplomatic channels.’

According to the SCMP, ‘Beijing has been quietly brokering talks between Kabul and the Taliban forces, and has made a few preliminary investments in the country. But Chinese investors have hit some brick walls.’

That situation may now change as Afghanistan looks to the Beijing-led AIIB for infrastructure support.

Sir Danny Alexander, Vice-President and Corporate Secretary of the AIIB, will be speaking about opportunities for the private sector to work with the AIIB at a conference at Asia House on 26 October.