The Maldives has expressed its appreciation for the support received from the Asian Infrastructure Investment Bank (AIIB) and signalled its intention to deepen ties with the institution in the coming years.
Speaking at the Business Roundtable titled “Building on a Decade of Impact” during AIIB’s 10th Annual Meeting held in Beijing, Minister of Finance and Planning Moosa Zameer commended the Bank’s evolution into a credible and active player within the global development landscape. He noted that AIIB’s membership now encompasses over 81 percent of the world’s population and 65 percent of global GDP, underscoring its growing role in supporting sustainable infrastructure and strategic investments.
Minister Zameer acknowledged the Bank’s strong foundation, built on principles of financial discipline, collaborative partnerships, and a mission that enables it to adapt to global shifts and respond to emerging challenges. He remarked that the current era, often referred to as the “Asian Century,” is characterised by the region’s rising economic influence and increasing demand for infrastructure. According to the Minister, AIIB has effectively addressed this trend by promoting regional cooperation and investment-driven growth.
Despite a backdrop of economic uncertainty, rising protectionism, and shifting trade dynamics, Minister Zameer praised AIIB’s continued commitment to multilateralism. He cited the creation of the Bank’s USD 20 billion COVID-19 Crisis Recovery Facility as a clear demonstration of its responsiveness and dedication to supporting its member countries in times of crisis.
The Minister also addressed the vulnerabilities faced by small island developing states such as the Maldives, particularly in relation to climate change. He reiterated the Government’s goal for renewable energy to account for 33 percent of the country’s energy mix by 2028. In this context, he highlighted AIIB’s USD 40 million contribution to the Waste-to-Energy project in the Maldives, a component of a wider USD 140 million initiative, as a crucial step towards environmentally sustainable development.
Since its inception, AIIB has invested over USD 60 billion in more than 300 projects worldwide. The Maldives, as one of the beneficiaries, hopes to increase direct cooperation with both the Bank and its member states, Minister Zameer said. He also pointed to the value of enhancing AIIB’s involvement during the early planning stages of projects to improve technical support and alignment with development goals.
The Minister concluded by reaffirming the Maldives’ commitment to its partnership with AIIB. He said this relationship has created opportunities for shared progress and produced results that benefit all parties involved.
