International development finance architecture has long been underpinned by an interlocking system of multilateral development banks (MDBs) that were conceived of as one of the primary conduits for fund flows from the developed to the developing world. They are well placed to help to mobilise finance, tackle issues that cross national borders, and reach the poorest and most vulnerable people in fragile contexts.
The 3rd Asian Infrastructure Investment Bank (AIIB) Annual Meeting was held under the theme of “Mobilizing Finance for Infrastructure: Innovation and Collaboration,” with the ultimate objective of economic growth, infrastructure development, policy initiatives, investment, innovation and job creation in recognition of the private sector’s vital role in bridging the infrastructure gap. The Asian Infrastructure Forum was also launched and it focused on creating business development opportunities for participants drawn from project sponsors, financiers, project delivery companies and government.
The June-July edition of the Multilateral Newsletter gives insights on the key takeaways from the Annual Meeting. In addition, the edition covers the BRICS Summit along with major happenings at the World Bank, World Trade Organisation (WTO), World Health Organisation (WHO), Association of Southeast Asian Nations (ASEAN) and Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).