by Yi Xin

In June, the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) brought together 3,500 delegates from some 100 countries and regions to Beijing, to mark the bank's decade-long growth and set the stage for the next phase of development.

Established with a mission to enable clients to build Infrastructure for Tomorrow (i4t), the AIIB has become a positive force for sustainable progress, functioning as a credible, inclusive and efficient institution that delivers tangible results across regions and sectors.

A NEW MODEL

The AIIB is a shining example of concrete commitment to multilateralism. Unlike traditional multilateral development banks (MDBs) dominated by developed countries, the AIIB was initiated by developing countries, with about 70 percent of its shares held by the developing world.

At the AIIB, policies and decisions are adopted through extensive consultation among a diverse board of directors, who represent over 100 members covering both developing and developed countries. The bank's core values -- Lean, Clean and Green -- promote institutional efficiency, anti-corruption and environmental sustainability. These features make the AIIB stand out as an MDB for balance, openness, and inclusiveness. The bank has consistently earned the highest ratings from Standard & Poor's, Moody's and Fitch Ratings since 2017 for upholding international norms and high operational standards.

Rather than competing with existing institutions, the AIIB is a good team player in enhancing regional connectivity. It is the largest co-financing partner for both the World Bank and the Asian Development Bank. In Georgia, the AIIB co-financed the Batumi Bypass Road as a key section of the East-West Highway, helping to modernize a critical trade corridor linking Europe and Asia.

A DECADE OF TANGIBLE IMPACT

The AIIB has made a notable difference in its first decade of growth. Its members, having grown from 57 to 110 across six continents, represent 81 percent of the global population and 65 percent of global GDP.

As of mid-2025, the AIIB has approved 322 projects with a total financing commitment of over 60 billion U.S. dollars across Asia, Africa, Europe and Latin America. These projects span diverse sectors including energy, transportation, water resources and public health, supporting over 51,000 km of transport links, providing safer drinking water for 8.71 million people, and adding 21.3 gigawatts of renewable energy generation capacity.

To fulfill its mission of i4t, the AIIB has mobilized over 200 billion dollars to support future-oriented, climate-resilient and technology-enabled infrastructure. From India's Chennai Metro Rail Phase-2 Project, Türkiye's Tuz Golu Gas Storage Expansion Project to Egypt's Alexandria-Abu Qir Metro Line, the AIIB has delivered real, measurable benefits to communities across Asia, Africa and beyond.

Moreover, responsive financing from the AIIB has helped build resilience in times of crisis. During the COVID-19 pandemic, the bank swiftly launched a Crisis Recovery Facility of 13 billion dollars, which expanded to 20 billion in 2022, to help members stabilize the economy and support their healthcare systems.

AN INITIATOR AND ACTIVE PARTICIPANT

China, as a founding member and the largest shareholder of the AIIB, played a pivotal role in its establishment. Rather than dominating the bank, China has emphasized the principles of multilateral governance and international collaboration. China's voting share in AIIB has been kept at around 26 percent and is expected to further decrease over time as the bank continues to grow and its membership diversifies.

A key Chinese contribution lies in knowledge-sharing. Working with the AIIB, China has readily shared its experience in developing green and digital infrastructure with fellow members of the Global South. For instance, the AIIB's participation in Pakistan's Tarbela 5 Hydropower Extension Project benefited from China's experience in developing hydropower while maintaining project-specific, country-led ownership.

A VISION FOR THE FUTURE

Looking ahead, the AIIB is poised to increase global relevance by pursuing three priorities: climate finance, connectivity and digital infrastructure.

At the recent annual meeting, the bank updated its strategy and outlined a blueprint to follow through its growth phase to 2030. Its Sustainable Development Bond Impact Report 2024 stands as a testament to its alignment with the UN Sustainable Development Goals. In an AI-empowered era, the AIIB has also launched the InfraTech Portal, a digital platform that shares comprehensive, neutral and free information on infrastructure technologies.

At a time of increasing global fragmentation, the AIIB represents a compelling model of cooperative development and shared prosperity. Its first decade of growth shows that multilateralism rooted in inclusive partnership is feasible and promising. The 10th meeting in Beijing was more than just a celebration; it was the launch of AIIB 2.0.

Yi Xin is a Beijing-based political commentator.

The views expressed in this article are those of the author and do not necessarily reflect those of Xinhua News Agency.