AIIB to launch 1st overseas office in Middle East

AIIB to launch 1st overseas office in Middle East

Mubasher: The Asian Infrastructure Investment Bank (AIIB) has chosen the Middle East to open its first overseas office after it signed a host member agreement with the UAE to officially operate in Abu Dhabi, according to a press release.

The Interim Operational Hub will also be a strategic destination in the world, not only the region. This step will boost the China-based lender’s development agenda and financing infrastructure projects to achieve sustainable economic growth.

President and Chairman of AIIB, Jin Liqun, commented: “As a founding member of AIIB, the UAE actively contributes to the bank’s sound governance and rapid growth.”

Liqun added: “The establishment of the hub in the UAE gives the bank a robust platform to manage our growing investment portfolio. It also enhances client and member engagement, project monitoring and implementation services across the globe.”

The new office will provide proximity to international financial centers while offering connectivity with the global infrastructure ecosystem to maintain AIIB’s growth momentum. AIIB has by far approved 212 projects at a value exceeding $40 billion in 33 member countries.

Meanwhile, Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB, said: “The agreement to host AIIB’s operational office reflects the UAE’s commitment to