Saudi Vice Minister of Finance Participates in AIIB Annual Meetings in Uzbekistan

KSA, 27 September, 2024 : His Excellency Abdulmuhsen Alkhalaf, Saudi Vice Minister of Finance, participated in the Asian Infrastructure Investment Bank (AIIB) Annual Meetings held on 25-26 September 2024 in Samarkand, Uzbekistan. 

In his remarks, the Vice Minister commended the AIIB's progress in achieving its strategic objectives and surpassing financing targets, highlighting its commitment to sustainable infrastructure in member nations. He urged the AIIB to enhance efforts in utilizing technologies that support the Circular Carbon Economy, including Carbon Capture, Utilization, and Storage (CCUS), noting Saudi Arabia's advocacy for this approach through initiatives like the Saudi and Middle East Green Initiatives.

Alkhalaf emphasized the importance of implementing projects that address basic human needs, such as water and food security, which are vital for social and economic stability amid growing global resource demands. 

During the meetings, he also engaged with finance ministers and officials from member nations to discuss cooperation in economic and financial sectors. The governors approved the AIIB Annual Report for 2023 and welcomed the Republic of Nauru as a new member. Saudi Arabia is a founding member of the AIIB, established in Beijing in 2016.

Source : www.mof.gov.sa