Finance Minister Nirmala Sitharaman met Asian Infrastructure Investment Bank (AIIB) President Zou Jiay in New Delhi on Saturday. According to the finance ministry, the meeting focused on exploring opportunities to further deepen the India-AIIB partnership and support India's infrastructure priorities. The discussion took place on the sidelines of the ongoing BRICS Summit in the capital. As reported by the finance ministry, the discussions encompassed opportunities to further deepen the India-AIIB partnership, support India's infrastructure and transport connectivity priorities, enhance local-currency financing, increase private sector participation and global presence of AIIB. The meeting was held on the sidelines of the two-day BRICS Summit which is scheduled to conclude on Sunday.
The meeting covered several key areas of cooperation between India and the multilateral development bank. The discussions included support for India's infrastructure and transport connectivity priorities, enhancement of local-currency financing, and increased private sector participation in AIIB's operations. The AIIB, established in 2016, operates as a multilateral development bank specifically focused on financing infrastructure projects across member countries. The bank's focus aligns with India's development priorities and positions it as a key partner in the country's infrastructure development goals.
The meeting also addressed AIIB's global presence and its role in international development financing. The discussions encompassed how the bank can expand its influence and impact in global infrastructure development. The AIIB's focus on infrastructure financing aligns with India's development priorities and positions it as a key partner in the country's infrastructure development goals.
The meeting occurred during the two-day BRICS Summit in New Delhi, which is scheduled to conclude on Sunday. The summit provides a platform for discussions between India and other BRICS nations on various economic and developmental matters. According to multiple political leaders, the summit represents an important opportunity to strengthen India's trade and diplomatic influence on the global stage. Uttar Pradesh Deputy Chief Minister Brajesh Pathak noted that interactions during the summit, including with leaders of China and Russia, could create new opportunities for Indian businesses. The summit's significance is highlighted by its positioning of India as a founding member of the original BRICS grouping, with expanded objectives focused on sustainable development and multilateral cooperation.
