Michael Sukkar MP

FIFTH ANNUAL MEETING OF THE ASIAN INFRASTRUCTURE INVESTMENT BANK

The Hon Michael Sukkar MP

Minister for Housing and Assistant Treasurer

MEDIA RELEASE

28 July 2020

FIFTH ANNUAL MEETING OF THE ASIAN INFRASTRUCTURE INVESTMENT BANK

The Asian Infrastructure Investment Bank (AIIB) is chartered with a mission to improve social and economic outcomes in Asia by investing in sustainable infrastructure and other productive sectors.

Today, representing Australia at the Fifth Annual Meeting of the AIIB Board of Governors, I discussed how these investments will better connect people, services and markets and build a better future for the region.

Due to COVID-19 this year’s meeting was held virtually with the pandemic framing much of the discussion.

While the pandemic has affected all countries differently, the need to finance large-scale health responses amidst deteriorating macroeconomic conditions has been a common challenge.

The Morrison Government continues to work with partners across the world to ensure this work happens.

Australia commended the AIIB for moving quickly to join international efforts through its COVID-19 Response Facility and for the way it is working in partnership with other multilateral development banks to support member countries.

Now more than ever, cooperation is vital to build quality infrastructure that will generate growth in our region as we recover from the COVID-19 pandemic.

Australia is a founding member of the AIIB, its fifth largest regional member and the sixth largest shareholder.

Now in its fifth year of operations, Australia also welcomes the effort the AIIB has devoted to developing its reputation for high operational and governance standards.

The website for the 2020 AIIB Annual Meeting can be found here: https://www.aiib.org/en/news-events/events/2020-annual-meeting/overview/index.html.