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ASIAN INFRASTRUCTURE INVESTMENT BANK ANNUAL MEETING OF THE BOARD OF GOVERNORS SUMMARY OF PROCEEDINGS MUMBAI, INDIA JUNE 25-26, 2018 ASIAN INFRASTRUCTURE INVESTMENT BANK Headquarters B9 Financial Street, Xicheng District Beijing, 100032 China Phone: +86 10 8358 0000 Website: www.aiib.org INTRODUCTORY NOTE The 3rd Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank took place on June 25-26, 2018, in Mumbai, India. His Excellency Piyush Goyal, Governor for India, served as the Chairman. The Summary of Proceedings records, in alphabetical order by members, the texts of statements submitted by Governors, the transcript of Governors’ contribution at the Governors’ Roundtable, and the resolutions adopted by Governors of the Asian Infrastructure Investment Bank. Danny Alexander Corporate Secretary Asian Infrastructure Investment Bank Beijing, China August, 2018 CONTENTS Page AGENDA ............................................................................................................................................... 1 Program of the Governors’ Business Roundtable ............................................................................... 1 Program of the Governors’ Official Session ....................................................................................... 1 OPENING SESSION ............................................................................................................................ 2 Address by Piyush Goyal Minister of Finance of India and Chair of the Board of Governors .................................................... 2 Address by Jin Liqun President of the Asian Infrastructure Investment Bank ...................................................................... 4 Address by Timur Suleimenov Minister of National Economy of Kazakhstan and Vice-Chair of the Board of Governors ............... 8 Address by Nikolai Astrup Minister of International Development of Norway and Vice-Chair of the Board of Governors ...... 10 Address by Narendra Modi Prime Minister of India ..................................................................................................................... 12 OFFICIAL SESSION OF THE BOARD OF GOVERNORS......................................................... 16 President’s Report to the Board of Governors .................................................................................. 16 Report by Host Country Government on Findings and Results of Lead-Up Events ........................ 21 Resolutions Adopted by the Board of Governors ............................................................................. 24 Resolution No. 62 Admission of the Republic of Lebanon in the Asian Infrastructure Investment Bank ..................................................................................................................... 24 Resolution No. 63 2017 Annual Report and 2018 Budget .......................................... 25 Resolution No. 64 Date and Place of the 2019 Annual Meeting ................................. 26 Resolution No. 65 Election of Officers of the Board of Governors ............................. 27 Resolution No. 66 Appreciation .................................................................................. 28 GOVERNORS’ ROUNDTABLE DISCUSSION ............................................................................. 29 Topic 1: What are the key transport infrastructure priorities and cross-border infrastructure needs in your region? .................................................................................................................................. 29 China ............................................. 29 Afghanistan .................................... 32 Philippines ..................................... 30 Poland ............................................ 33 Saudi Arabia .................................. 31 Turkey ............................................ 34 Austria ........................................... 32 Azerbaijan ...................................... 34 Topic 2: What are some of the most urgent infrastructure investments that cities in your country need? .......................................................................................................................................................... 36 Sri Lanka ....................................... 36 Israel .............................................. 38 Nepal ............................................. 37 Denmark ........................................ 39 Switzerland .................................... 40 Austria ........................................... 42 Hungary ......................................... 42 Topic 3: What are the factors hindering private capital from financing infrastructure projects in your country? ............................................................................................................................................ 44 United Kingdom ............................ 44 Myanmar ........................................ 53 Singapore ....................................... 46 Hong Kong, China ......................... 53 Indonesia ........................................ 47 Finland ........................................... 54 Korea ............................................. 49 Canada ........................................... 54 Germany ........................................ 50 Italy ................................................ 54 India ............................................... 51 STATEMENTS FROM THE BOARD OF GOVERNORS ............................................................ 56 Australia ........................................ 56 Lao PDR ........................................ 88 Austria ........................................... 58 Malaysia ......................................... 90 Azerbaijan ...................................... 59 Malta .............................................. 92 Bangladesh .................................... 62 Myanmar ........................................ 93 Brunei Darussalam ........................ 63 Nepal .............................................. 95 Cambodia ....................................... 66 Netherlands .................................... 97 Canada ........................................... 67 New Zealand .................................. 99 China.............................................. 68 Pakistan ........................................ 100 Finland ........................................... 70 Philippines ................................... 101 France ............................................ 71 Portugal ........................................ 102 Georgia .......................................... 72 Samoa .......................................... 103 Germany ........................................ 74 Saudi Arabia ................................ 104 Hong Kong, China ......................... 76 Singapore ..................................... 105 India ............................................... 77 Thailand ....................................... 106 Indonesia ........................................ 80 Turkey .......................................... 109 Israel .............................................. 83 United Arab Emirates .................. 110 Italy ................................................ 83 Vietnam ....................................... 112 Jordan ............................................ 85 Group Statement .......................... 115 Korea ............................................. 87 PARTICIPANTS TO THE ANNUAL MEETING ........................................................................ 117 Delegations of Members ................................................................................................................. 117 Delegations of Prospective Members ............................................................................................. 125 Observers ........................................................................................................................................ 126 AGENDA PROGRAM OF THE GOVERNORS’ BUSINESS ROUNDTABLE 1. Opening of Meeting 2. Thematic Discussions a) Topic 1: Transport b) Topic 2: Sustainable Cities c) Topic 3: Mobilizing Private Capital 3. Closing PROGRAM OF THE GOVERNORS’ OFFICIAL SESSION 1. Opening of Meeting 2. Adoption of the Agenda 3. Work Progress Report by President Jin Liqun 4. 2017 Annual Report 5. 2018 Budget 6. Report by Host Country Government on Findings and Results of Lead-Up Events 7. Report by Corporate Secretary on Result of 2018 Election of Board of Directors 8. Admission of New Members - Lebanon 9. Date and Place of 2019 Annual Meeting 10. Election of Officers of the Board of Governors 11. Appreciation 1 OPENING SESSION ADDRESS BY PIYUSH GOYAL MINISTER OF FINANCE OF INDIA AND CHAIR OF THE BOARD OF GOVERNORS A very good morning and a warm welcome to all of you to the Opening Ceremony of the Third Annual Meeting of the Asian Infrastructure Investment Bank (AIIB)! It is my privilege to welcome Hon’ble Prime Minister Shri Narendra Modi ji to this momentous occasion signifying global cooperation and development. A special welcome to all the distinguished participants from abroad! It is my privilege, as the Governor of AIIB for India, to address this august gathering of international leaders and dignitaries representing governments, developmental agencies, banks, academia and business. India is honored to host this year’s Annual Meeting of AIIB. India has a symbiotic
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