China Pushes AIIB to Boost Cross-Border Projects

China's finance minister, Lan Foan, has called on the Asian Infrastructure Investment Bank (AIIB) to enhance its funding for cross-border connectivity projects focusing on developing countries. Speaking at AIIB's annual meeting in Beijing, he also encouraged private sector involvement in cross-border investment initiatives.

China's finance minister, Lan Foan, has urged the Asian Infrastructure Investment Bank (AIIB) to increase funding for cross-border connectivity projects in developing nations. Addressing the audience at the AIIB's annual meeting in Beijing, Foan emphasized the importance of such projects for economic growth and regional cooperation.

Foan also highlighted the need for greater private sector participation in cross-border investments. Encouraging partnerships between public and private entities, he suggested that collaboration could accelerate the development and execution of infrastructure initiatives.

The finance minister's comments reflect a broader strategy by China to strengthen economic ties and infrastructure links within Asia and beyond, aiming to facilitate trade, bolster economic resilience, and support sustainable development in underdeveloped regions.

(With inputs from agencies.)