Friday, December 21, 2018

AIIB Granted Permanent Observer Status by the United Nations

The United Nations (UN) has adopted a resolution granting the Asian Infrastructure Investment Bank (AIIB) permanent observer status.

The resolution was passed by UN member states at the Dec. 20, 2018 UN plenary meeting in recognition of AIIB’s close relevance and contribution to the UN’s development mandate. Upon the adoption of the resolution, AIIB will hold a standing invitation to participate in an observer capacity in the deliberations of both the General Assembly and the Economic and Social Council, the two most development-focused principal organs of the UN.

“There is a natural alignment between AIIB’s mission to improve economic development in Asia and beyond and the UN’s development mandate,” said AIIB President Jin Liqun. “We welcome this opportunity to deepen our relationship with the UN and enhance our contributions to the Sustainable Development Goals.”

AIIB’s Articles of Agreement requires the Bank to work in close cooperation with other development-related international organizations. The General Assembly’s granting of permanent observer status to AIIB will put the Bank on par in the UN system with other development organizations such as the Organisation for Economic Co-operation and Development, the African Development Bank, the Inter-American Development Bank and the Asian Development Bank.
Earlier, the draft resolution was considered by the Legal Committee of the General Assembly and jointly sponsored by more than 50 UN member states earlier this year.  It was then recommended by the Committee to the General Assembly and has now been formally adopted. The resolution can be found on the UN website.

About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 93 approved members worldwide. By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.

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