At the 10th annual meeting of the Asian Infrastructure Investment Bank (AIIB) board of governors, held in Beijing from June 24-26, Saudi Minister of Finance Mohammed Al-Jadaan highlighted the significance of AIIB's support for low-income countries.

He pointed to the bank's special funds as effective resources that can help bridge financing gaps and ensure inclusive development across all members without exception.

During the governors' roundtable discussion, Al-Jadaan underscored the importance of intensifying cooperation with other development banks and attracting private capital.

He noted that while infrastructure development is a key driver of global economic growth, private sector participation in cross-border interconnection projects remains limited at 22 percent.

Consequently, public-private partnerships remain underutilized in addressing infrastructure needs.

The minister proposed several innovative solutions to overcome these challenges.

These include dynamic risk distribution, integrated financing mechanisms, and the establishment of payment channels supported by blockchain technology.

Al-Jadaan believes that such measures could help enhance AIIB's effectiveness in promoting sustainable development.

Furthermore, he emphasized the need for increased investments in emerging energy technologies.

In particular, he called attention to the importance of carbon capture, utilization, and storage (CCUS) in achieving energy security objectives.

According to Al-Jadaan, the bank has acknowledged the significance of the energy sector but must go further in addressing these critical issues.