Sitharaman Urges AIIB To Expand Financing Focus To AI, MSMEs And Skilling

New Delhi, Sep 30 (KNN) Finance Minister Nirmala Sitharaman has urged the Asian Infrastructure Investment Bank (AIIB) to expand its financing focus beyond physical infrastructure to include emerging areas such as artificial intelligence (AI), MSMEs and skilling.

Sitharaman made the suggestion during a meeting with AIIB President Zou Jiayi on the sidelines of the bank’s annual meeting. India is the second-largest shareholder of AIIB after China.

India Supports AIIB’s Expansion Plans

The Finance Ministry said Sitharaman congratulated the bank on its strong performance in the first half of the year and conveyed India’s support for its 2027 budget plans and priorities for scaling up operations.

She also reiterated that AIIB’s regional focus should remain a defining institutional characteristic and an important part of its mandate, reported PTI.

AIIB Urged To Support MSMEs And AI Adoption

The minister highlighted the role of MSMEs in India’s economy and said support for AI adoption and workforce training could help smaller businesses adapt to emerging technologies.

The two sides also discussed AIIB’s project pipeline in India and its expanding global operations. Zou Jiayi said the bank would continue supporting projects related to urban development, environmental protection and public infrastructure.

AIIB Has 111 Approved Members

Headquartered in Beijing, AIIB began operations in 2016 and currently has 111 approved members. The multilateral development bank has authorised capital of USD 100 billion and holds AAA ratings from major international credit rating agencies.

According to AIIB records, China holds the largest share of voting rights at 26.54 per cent, followed by India at 7.58 per cent, Russia at 5.9 per cent and Germany at 4.1 per cent.

(KNN Bureau)