Narendra Modi inaugurates third AIIB annual meet

Reporters Today: Prime Minister Narendra Modi inaugurated the main event of the third annual meeting of Asian Infrastructure Investment Bank (AIIB).

The theme of the meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration”.

In this event various leaders from different organization will share their ideas experiences for creating a sustainable future through sound infrastructure investment.

Discussion is on economic growth, infrastructure development, policy initiatives, investment, innovation and job creation.

According to Vice President of AIIB, Danny Alexander, over 3000 people have registered for the event.

AIIB will invest 100 million US dollars in Prime Minister Narendra Modi informed Economic Affairs Secretary Subhash Chandra Garg.

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. The bank currently has 86 member states from around the world. The bank started operation after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock.Major economies that are not members include Japan, Mexico, Nigeria, and the United States