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AIIB to focus on investment in information technology infrastructure

(People's Daily Online)    17:43, January 05, 2016
AIIB to focus on investment in information technology infrastructure
Jin Liqun (File Photo: Xinhua)

The Asian Infrastructure Investment Bank (AIIB) is devoted to investment in information technology, said the bank’s President-designate, Jin Liqun, in an article published Tuesday by 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 and connectivity, saying that they play a key role in transforming economy, promoting strategic adjustment of economic structure and boosting innovation.

Against such a backdrop, the AIIB hopes to promote the integration of regional and global economies and contribute to a new spree of technology innovation by capitalizing on information technology to boost online technology cooperation.

Motivated by the priorities of its members, infrastructure in information and related sectors will be prioritized in AIIB’s investments, the president-designate emphasized.

According to the article, such investments include fixed broadband networks, fiber optic telecommunication cables (especially cross-border land and sea cables), wireless sensor networks, satellite services, new generation mobile telecommunication networks, cloud computing and big data platforms.

“The future Board of Governors will formulate policies based on the demand of members to help break down digital barriers and cultivate a new pattern of economic growth,” Jin wrote in the article.

Moreover, the AIIB will put emphasis on sectors related to infrastructures and connectivity in an orderly manner, he said, citing transportation, clean energy, urban infrastructure, agriculture and logistics as examples.

Jin also reiterated that the AIIB seeks to cooperate with its members and partner organizations through an inclusive, open and transparent philosophy.

As the first multilateral financial organization initiated and led by developing countries in Asia, the AIIB will uphold a principle of efficiency and transparency, he said.

Jin stressed that the bank is designed to provide financial support for infrastructure development and regional connectivity in Asia. It will also promote regional economic integration and prosperity by utilizing financial tools such as loans, guarantees and equity investment.

The AIIB was officially established on Dec. 25, 2015. So far, 57 countries have signed the inter-governmental agreement, while more Asian and world economies are applying for membership. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Hongyu,Bianji)

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