The Asian Infrastructure Investment Bank, known as the AIIB, is celebrating its fifth anniversary. Today, the organization has doubled the number of members it had when it launched in Beijing back in 2016, making it the second largest of all multilateral banks. In the face of new global challenges, not least of all COVID-19, the AIIB is currently undergoing a transformation. Feng Yilei has more.
The Asian Infrastructure Investment Bank is re-thinking its strategy, from financing traditional infrastructure, to looking ahead to the future.
The international development bank has identified key emerging infrastructure trends that will drive the future of investment in previously overlooked areas.
The new focus? Infrastructure that is green and human-centred, with an eye on technology while enhancing connectivity.
The shift takes place in the context of COVID-19, which experts say has exposed weaknesses in infrastructure of many economies.
JIN LIQUN President of AIIB “At this juncture, it is important to point out that efforts to foster our health system as well as address climate change can no longer be dealt with in silence. We need to promote the intricate emerging pattern of the relationship between climate and health care problems. Rebooting the global economy will require that we no longer tackle challenges in isolation.”
The AIIB’s plans are laid out in its “Next-10-year Corporate Strategy” which establishes clear priorities and ambitious targets in its overall share of financing-50 percent for climate action by 2025, 25 to 30 percent for cross-border connectivity by 2030, and 50 percent for private sector operations by 2030.
In the medium-to-long term, the bank’s next chapter includes not just expanding into social infrastructure, but also ramping up investment in digital infrastructure, especially in less-developed regions.
JIN LIQUN President of AIIB “New infrastructure development boosted by new technologies will bring for immediate benefits and pay off in the long term. Global trade will eventually open up, and those countries who invest smartly would be ready to capitalize on those opportunities. Indeed, there will be, in my view, and overhaul of the existing structure to meet the needs of the digital era.”
As global policy makers struggle with the current global health crisis and its immediate aftermath, experts say it is imperative for multilateral development banks, such as the AIIB, to work with the private sector to mobilize much needed investment.
They say a key challenge is to leverage more international capital from the private sector or commercial banks that eye returns.
JIN LIQUN President of AIIB “To a certain extent, it’s not so easy to find common ground, but it’s possible. Private sector investors may not necessarily look at the highest returns when they know that by working with MDBs, actually, they have safety of their resources. And also with enhanced responsibility, they would love to work with MDBs.”
FENG YILEI Beijing “Over the past half a decade, the president of the AIIB says he has witnessed the progress in terms of how development bank operates, including its policies, regulations, staffing and institutional environment.”
Challenges brought about by the pandemic have accelerated change in the overall development of multilateral development banks. The AIIB says it has gained critical experience and the opportunity to further evolve its business model, to play a central role in the stability of global finance. Feng Yilei, CGTN, Beijing.
The War in the Shadows: Challenges of Fighting Terrorism in Xinjiang | Trailer
Challenges Of Fighting Terrorism In Xinjiang: The Black Hands
For years, extremists in and out of Xinjiang have turned to the internet to spread their separatist ideologies. Recruitment and propaganda videos, including some that taught how to make weapons such as explosives, were being uploaded online. To counter this threat, Xinjiang’s internet guardians have been actively scanning the internet for suspicious materials and activities.
This is one of many stories in CGTN’s exclusive documentary “The war in the shadows: Challenges of fighting terrorism in Xinjiang.” Watch the full documentary here.
The War In The Shadows: Challenges Of Fighting Terrorism In Xinjiang
Xinjiang, in the far western land of China, hosted one of the world’s first and most important trade routes known as the Silk Road, which linked ancient Chinese civilization to the West through the Eurasian continent.
The land of fortune, however, has not always enjoyed tranquility. Thousands of terrorist attacks from 1990 through 2016 killed large numbers of innocent people and hundreds of police officers. Horrific stabbings and bombings wrecked the land, leaving its people in shock, grief and panic. The damage was incalculable while stability in the region quickly deteriorated. Authorities have been trying hard to restore peace to this land.
In CGTN’s first three documentaries on fighting terrorism in Xinjiang, we presented never-before-seen footage documenting the frightening tragedies in Xinjiang and the resilience of its people.
The fourth exposé “The war in the shadows: Challenges of fighting terrorism in Xinjiang” – the last of the tetralogy – exposes the extremist thinking and the challenges facing China’s efforts to tackle terrorism inside and outside Xinjiang.
It gives answers to these questions: Why has violent terrorism continued to plague Xinjiang? For those who were once known as “Two-faced people” among the legal and political elites in Xinjiang, how much damage have they done to anti-terrorism efforts in the region? How come poisonous education materials alleging ethnic victimization and “Turkic heroes” have been used for 13 years in primary and middle schools? Why must we stop the invisible hand of foreign advocacy abetting violent terrorism infiltrating our country?
The documentary reveals the methods used by extremist and separatist forces including the “Two-faced people” among the region’s high-ranking officials, as well as how music and videos advocating violent terrorism and inciting ethnic hatred penetrated the region. Plus, it also tells of the very hardship police officers have been mired in for decades.
Over the past four years, violence has largely been contained, giving way to rapid urbanization and economic growth. Safety and tranquility never come easy. But it’s only a preliminary victory in China’s fight against terrorism.
The documentary is 55 minutes long and consists of four parts: “The network,” “Enemies within,” “The textbooks,” and “The black hands.”
We present you with the first three documentaries — each under an hour — below.
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