Rabadi hails AIIB’s role at virtual meet

AMMAN — Jordan's Governor at the Asian Infrastructure Investment Bank (AIIB) and Minister of Planning and International Cooperation Wissam Rabadi on Tuesday took part in the fifth annual meeting of the bank's board of governors via videoconference.

During a round table session for the governors, Rabadi praised the efforts and achievements of the bank under its President Jin Liqun, expressing appreciation for China for hosting the meeting amid "different and difficult circumstances" due to the spread of the COVID-19 pandemic, according to a ministry statement. 

The minister reviewed the Kingdom's strategy in dealing with the pandemic at the levels of adaptation, solidarity, recovery and economic resilience.

He highlighted the importance of giving priority to citizens' health, stressing that Jordan is keen to sustain cooperation with the bank in light of the prevailing challenges and the repercussions of the virus.

He also commended the AIIB's COVID-19 Crisis Recovery Facility with a value of $10 billion, which the bank launched as a response to help member countries deal with the repercussions of the pandemic.

Rabadi noted that the facility is considered an “example” of diversified methods and tools of funding, which help provide the necessary capital to assist affected sectors.

The minister also highlighted the importance of giving sufficient attention to challenges resulting from epidemics, refugee crises, climate change and food security globally, while outlining the main elements of the institutional strategy of AIIB. 

He also stressed Jordan's commitment to continue implementing reforms, mainly those related to the five-year policy matrix, highlighting the legal framework for partnership between the public and private sectors, and the importance of cooperation with the bank to implement projects in the transport, water, sanitation, tourism and infrastructure fields. 

Chinese President Xi Jinping attended the opening session of the meeting that witnessed participation of representatives from the 82 member countries, according to the statement. 

The AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, the bank began operations in January 2016 and has now grown to 103 approved members worldwide, according to the AIIB website.