Saudi Finance Minister Mohammed al-Jadaan urged the Asian Infrastructure Investment Bank to judge its success by the impact of its projects, saying financing volumes and approvals alone do not show whether the bank is improving services, strengthening institutions, or building economic resilience.
Speaking at the 11th annual meeting of the bank’s Board of Governors, which concluded on Tuesday in Doha, al-Jadaan said the AIIB had built strong foundations in its early years.
Progress on regional connectivity, cooperation and private-sector participation had strengthened its ability to meet member countries’ infrastructure needs, he said.
As the bank expands, progress “should not be measured by financing volumes or project approvals alone, but by development impact,” he said.
Success should mean “better infrastructure services, stronger institutions, greater economic resilience and broader private-sector participation,” al-Jadaan said, as the bank enters its second decade and seeks to expand infrastructure financing and mobilize more private capital.
He called for earlier engagement with member countries to better understand their circumstances, infrastructure gaps and priorities, and for multiyear programs aligned with national strategies.
Al-Jadaan also urged the bank to broaden partnerships with multilateral development banks and international organizations to share expertise, avoid duplicating efforts and mobilize more public and private resources.
He said the bank should remain guided by member countries’ needs, taking account of differences in institutional capacity, fiscal space and levels of infrastructure development.
The Doha meeting, held under the theme “Future Infrastructure: Impact and Innovation,” comes as the bank prepares for a new phase of expansion.
The AIIB has said it aims to nearly double annual financing to about $20 billion by 2030, focusing on infrastructure linked to climate resilience, renewable energy, digital transformation and regional connectivity, while mobilizing more private capital.
Saudi Arabia is a founding member of the AIIB, a multilateral development finance institution established in Beijing in 2016.
