PD Talk PD Talk | Let economic activities survive in the freeze period: AIIB VP

PD Talk

PD Talk | Let economic activities survive in the freeze period: AIIB VP

People’s Daily app

19:47, September 08, 2020

In this special edition of People's Daily Talk during the China International Fair for Trade in Services (CIFTIS),  Dr. Joachim von Amsberg, Vice President of Asian Infrastructure Investment Bank (AIIB),  joins us.

Von Amsberg drives the strategic direction of the AIIB, including its sector and country priorities, its investment strategy and programming, its economic analysis and research, and its operating budget. 

To offset the negative impact of COVID-19 to member countries of the AIIB, he said that the bank created a COVID-19 crisis recovery facility to help respond to the needs of its member countries to help them battle both the health and economic crises.

Due to the lockdown and restrictions, many countries have put their economies in deep freeze. The measures AIIB supports let people and economic activities survive in this period, von Amsberg added.

As the needs of developing countries are more urgent in the pandemic, the AIIB has expanded its programs to low-income and middle-income countries, especially poorer countries that need financial support, he noted.

He explained that the pandemic doesn't change the agenda of the AIIB, but helps the bank better outline its future focus, as it will expand efforts in digital infrastructure and healthcare.

The AIIB won't slow down its pace to bring in more members. In addition, more countries have applied for membership because they need financial support.

Talking about the common interests and aspirations shared by the AIIB and the CIFTIS, von Amsberg said trade in services lies at the heart of AIIB as financing across borders is trade in services. He added that successful infrastructure programs depend on trade in service, and the AIIB is a good example of how trade in services has increasingly become a driver for global growth.

For more insights, please click on the video.

(Produced by Han Xiaomeng, Wang Xiangyu and Xu Zheqi)

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