At the sidelines of the annual meeting of the AIIB, in which India is the second largest shareholder after China, Sitharaman congratulated the bank on its strong performance in the first half of the year and conveyed the country’s support for the Bank’s 2027 budget plans and focus areas for scaling up operations.
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Sitharaman reiterated that the Bank’s regional centrality should continue to remain a defining institutional characteristic and an important anchor of its mandate.
“The Union finance minister said AIIB could further expand beyond physical infrastructure financing to include newer infrastructure that focuses on AI, MSMEs, and skilling. She noted that MSMEs are the backbone of India’s economy, and assistance for AI adaptability and manpower training can help MSMEs,” the Finance Ministry said on X.
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Both leaders discussed AIIB’s robust pipeline of projects in India and its expanding global presence, including in India, the ministry said.India is the second-largest shareholder in AIIB, with China as the largest shareholder.
During the meeting, the AIIB President congratulated the Union Finance Minister on the successful BRICS Leaders’ Summit in New Delhi.
Recalling her last visit to project sites in Delhi and Meerut, the AIIB President said that the bank will continue financing projects for people, urban development and environmental protection.
The Beijing-headquartered AIIB began functioning in 2016 and currently has 111 approved members worldwide, which include China, India, Bangladesh, Pakistan, Iran, Iraq, Australia, Israel, Kuwait, Nepal, Oman, Russia, Singapore, Sri Lanka and the UAE.
It is capitalised at USD 100 billion and is AAA-rated by major international credit rating agencies. According to the bank’s official records, China is its largest shareholder with 26.54 per cent voting shares, followed by India (7.58 per cent), Russia (5.9 per cent) and Germany (4.1 per cent).