Asian Infrastructure Investment Bank points to changes in strategy
According to an analyst, the epidemic "taught AIIB many lessons".
The coronavirus pandemic has set new priorities and made adjustments to the strategic line of Asian Infrastructure Investment Bank (AIIB), leading economist of the international financial organization Erik Berglof told TASS correspondent on Monday.
“The crisis situation, indeed, demonstrated in many details that we did not achieve what we wanted,” he said on the sidelines of Boao Forum for Asia, which is taking place in China's Hainan province. “Our bank specializes in promoting projects, <...> and we additionally hired people to work in the newly created department of social infrastructure".
According to the analyst, the epidemic "taught AIIB many lessons." "I was directly involved in the elaboration of measures aimed at the formation of new directions of our bank's activities related to healthcare. This had to be done in a short time, since we did not have much time," Berglof said.
According to the analyst, in the current situation, the lack of medical infrastructure in many countries is obvious. “It turns out that we even have to work on basic health facilities,” the expert said. “The [pandemic] crisis taught many people a lesson, but thanks to it we have learned a thing or two.”
He pointed to the low level of preparation for the implementation of measures to counter coronavirus in a number of countries across the globe "Before the pandemic, we [AIIB] did not do anything in the field of health, and the virus raised many of the issues that are related to it," concluded Berglof.
Asian Infrastructure Investment Bank was established at the initiative of Beijing to finance infrastructure projects in the countries of the region. The bank began operating in 2016 and currently has 102 members. Russia became the owner of 65,362 shares of the bank, receiving 5.92% of the votes. Together with Russia, the top three founders include China (26.06%) and India (7.5%).
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The coronavirus pandemic has set new priorities and made adjustments to the strategic line of Asian Infrastructure Investment Bank (AIIB), leading economist of the international financial organization Erik Berglof told TASS correspondent on Monday.
“The crisis situation, indeed, demonstrated in many details that we did not achieve what we wanted,” he said on the sidelines of Boao Forum for Asia, which is taking place in China's Hainan province. “Our bank specializes in promoting projects, <...> and we additionally hired people to work in the newly created department of social infrastructure".
According to the analyst, the epidemic "taught AIIB many lessons." "I was directly involved in the elaboration of measures aimed at the formation of new directions of our bank's activities related to healthcare. This had to be done in a short time, since we did not have much time," Berglof said.
According to the analyst, in the current situation, the lack of medical infrastructure in many countries is obvious. “It turns out that we even have to work on basic health facilities,” the expert said. “The [pandemic] crisis taught many people a lesson, but thanks to it we have learned a thing or two.”
He pointed to the low level of preparation for the implementation of measures to counter coronavirus in a number of countries across the globe "Before the pandemic, we [AIIB] did not do anything in the field of health, and the virus raised many of the issues that are related to it," concluded Berglof.
Asian Infrastructure Investment Bank was established at the initiative of Beijing to finance infrastructure projects in the countries of the region. The bank began operating in 2016 and currently has 102 members. Russia became the owner of 65,362 shares of the bank, receiving 5.92% of the votes. Together with Russia, the top three founders include China (26.06%) and India (7.5%).
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