FM Nirmala Sitharaman met AIIB President Zou Jiayi in Doha, discussing the bank's project pipeline in India. Sitharaman endorsed AIIB's budget and urged expansion beyond physical infrastructure to new areas like AI, MSMEs, and skilling.
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman met Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi on the sidelines of the AIIB Annual Meeting 2026 in Doha, Qatar, where both leaders discussed the robust pipeline of the bank's projects in India.
According to the Ministry of Finance on X, the bilateral discussions centered on cooperation, operational expansion, and institutional priorities.
During the interaction, both leaders also evaluated options for expanding the multilateral institution's global presence, including operations within India.
India's Support and AIIB's Operational Momentum
The engagement opened with mutual acknowledgements of recent milestones. President Zou congratulated the Union Finance Minister on the successful conduct of the BRICS Leaders' Summit held in New Delhi. In response, Sitharaman conveyed India's appreciation for the multilateral development institution's operational momentum, congratulating the bank on its strong performance in the first half of the year.
Sitharaman also conveyed India's formal backing for the multilateral lender's upcoming fiscal roadmap. "India's support for the Bank's 2027 budget plans and focus areas for scaling up operations," the Finance Minister said.
Turning to ongoing and future portfolio activities, the AIIB chief recalled her previous on-ground evaluations in the country. "Recalling her last visit to project sites in Delhi and Meerut, President AIIB said that the bank will continue financing projects for people, urban development and environmental protection," the Ministry noted.
Expanding Scope for Future Development
Addressing future operational priorities, Sitharaman proposed widening the lender's conventional asset scope to align with emerging developmental requirements across sectors. "AIIB could further expand beyond physical infrastructure financing to include newer infrastructure that focuses on AI, MSMEs, and skilling," the Ministry stated.
Focus on MSMEs and Skilling
Elaborating on the domestic industrial landscape, the Minister emphasized the strategic role of smaller enterprises and the precise nature of institutional interventions required. "MSMEs are the backbone of India's economy, and assistance for AI adaptability and manpower training can help MSMEs," the Finance Minister noted.
Upholding Regional Centrality
The meeting concluded with a policy observation on the governance architecture and regional orientation of the multilateral institution going forward. "The Bank's regional centrality should continue to remain a defining institutional characteristic and an important anchor of its mandate," Sitharaman reiterated. (ANI)
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