Samarkand, (TDI): The annual meeting of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) was held in Samarkand, Uzbekistan, bringing together around 2,000 representatives from over 100 countries.
The ninth session of the Board was dedicated to the theme of “Creating Sustainable Infrastructure for All” and featured discussions on pressing global economic issues and strategic development plans for infrastructure in Asia and other regions.
In his opening remarks, Uzbek President Shavkat Mirziyoyev highlighted the need for urgent action on several global challenges, including geopolitical instability, economic uncertainty, food and energy scarcity, and environmental degradation.
He pointed out that the average global temperature is expected to rise by 1.5 degrees Celsius by 2040, with potential acceleration by 2030.
Mirziyoyev also drew attention to the fact that one-quarter of the world’s population still lacks access to clean drinking water, while about 800 million people live in extreme poverty due to the growing impacts of climate change and food shortages.
Uzbekistan’s Efforts to Combat Poverty
The President underscored Uzbekistan’s efforts to combat poverty, which has been reduced from 23% to 11% over recent years, with a target to further decrease it to 9% this year and halve it by 2030.
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In the education sector, the country has made significant strides, increasing preschool enrollment from 27% to 74% and higher education enrollment from 9% to 38% over the past eight years.
The government plans to invest $2 billion annually to build 100 new advanced-standard schools across all cities and villages.
Mirziyoyev also emphasized the critical need for investments in infrastructure, noting that by 2030, the world will require $15 trillion for new infrastructure projects.
He mentioned that foreign investments have declined by 10% over the past two years, and the value of financial resources has nearly doubled globally, which poses a significant challenge for sustainable development.
He announced that Uzbekistan, in collaboration with the AIIB, is launching projects worth $200 million to develop medium-sized cities and $130 million to improve rural infrastructure.
As part of its commitment to a “green” economy, the country aims to achieve 40% renewable energy sources by 2030, with plans to implement projects for 18 gigawatts of solar and wind power, 3 gigawatts of hydropower, and 5 gigawatts of energy storage capacity.
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Mirziyoyev highlighted the region’s potential to become a major exporter of renewable energy and proposed the implementation of a “green” energy development program for Central Asia under AIIB’s leadership.
He also called for the establishment of a regional center to advance water-saving technologies, stressing that water security is a critical issue for Central Asia, and requires cooperation among neighboring countries and support from international financial institutions.
The meeting concluded with a focus on collaborative approaches to address shared challenges and harness the region’s potential for sustainable growth and infrastructure development.
