Foreign news
AIIB Fifth Anniversary Asian Infrastructure Investment Bank celebrates anniversary with eye on green post-pandemic recovery
The Asian Infrastructure Investment Bank, known as the AIIB, is celebrating its fifth anniversary. Today, the organization has doubled the number of members it had when it launched in Beijing back in 2016, making it the second largest of all multilateral banks. In the face of new global challenges, not least of all COVID-19, the AIIB is currently undergoing a transformation. Feng Yilei has more.
The Asian Infrastructure Investment Bank is re-thinking its strategy, from financing traditional infrastructure, to looking ahead to the future.
The international development bank has identified key emerging infrastructure trends that will drive the future of investment in previously overlooked areas.
The new focus? Infrastructure that is green and human-centred, with an eye on technology while enhancing connectivity.
The shift takes place in the context of COVID-19, which experts say has exposed weaknesses in infrastructure of many economies.
JIN LIQUN President of AIIB “At this juncture, it is important to point out that efforts to foster our health system as well as address climate change can no longer be dealt with in silence. We need to promote the intricate emerging pattern of the relationship between climate and health care problems. Rebooting the global economy will require that we no longer tackle challenges in isolation.”
The AIIB’s plans are laid out in its “Next-10-year Corporate Strategy” which establishes clear priorities and ambitious targets in its overall share of financing-50 percent for climate action by 2025, 25 to 30 percent for cross-border connectivity by 2030, and 50 percent for private sector operations by 2030.
In the medium-to-long term, the bank’s next chapter includes not just expanding into social infrastructure, but also ramping up investment in digital infrastructure, especially in less-developed regions.
JIN LIQUN President of AIIB “New infrastructure development boosted by new technologies will bring for immediate benefits and pay off in the long term. Global trade will eventually open up, and those countries who invest smartly would be ready to capitalize on those opportunities. Indeed, there will be, in my view, and overhaul of the existing structure to meet the needs of the digital era.”
As global policy makers struggle with the current global health crisis and its immediate aftermath, experts say it is imperative for multilateral development banks, such as the AIIB, to work with the private sector to mobilize much needed investment.
They say a key challenge is to leverage more international capital from the private sector or commercial banks that eye returns.
JIN LIQUN President of AIIB “To a certain extent, it’s not so easy to find common ground, but it’s possible. Private sector investors may not necessarily look at the highest returns when they know that by working with MDBs, actually, they have safety of their resources. And also with enhanced responsibility, they would love to work with MDBs.”
FENG YILEI Beijing “Over the past half a decade, the president of the AIIB says he has witnessed the progress in terms of how development bank operates, including its policies, regulations, staffing and institutional environment.”
Challenges brought about by the pandemic have accelerated change in the overall development of multilateral development banks. The AIIB says it has gained critical experience and the opportunity to further evolve its business model, to play a central role in the stability of global finance. Feng Yilei, CGTN, Beijing.
Featured
Financing Health Futures: Nigeria, Ghana, Uganda Turn to Tobacco and Telecom Taxes in Big Push Against Malaria
African leaders, parliamentarians, health experts, and development partners have renewed their commitment to ending malaria by 2030, with a bold call for domestic financing through innovative taxation on tobacco, alcohol, and telecom services to close critical funding gaps.
The discussions took center stage at the Big Push Against Malaria: Harnessing Africa’s Role high-level political engagement in Abuja, where Nigeria, Ghana, and Uganda showcased new homegrown financing strategies aimed at reducing dependence on dwindling donor support.
Africa’s Heavy Burden
Malaria remains one of Africa’s deadliest diseases. In 2023, the world recorded 263 million cases and nearly 600,000 deaths, with 94% of cases and 95% of deaths occurring in Africa. Nigeria alone accounted for 26.6% of global cases and 31% of deaths, according to the World Malaria Report 2024. Children under five remain the most vulnerable, making up 76% of deaths.
Despite progress — with Nigeria cutting malaria deaths by more than half since 2000 through insecticide-treated nets, preventive treatments, and the rollout of the new R21 malaria vaccine — leaders warned that global targets are off-track. The World Health Organization’s technical strategy for malaria (2016–2030) has stalled since 2017, with Africa unlikely to meet its 2025 and 2030 milestones without urgent action.
Taxing for Health Futures
The Nigerian Parliament’s Committee on HIV/AIDS, Tuberculosis, and Malaria (ATM) announced plans to fund malaria elimination through “sin taxes” and telecom levies.
According to the House Chair on ATM, Hon. Linda Ogar, a bill is underway to restructure the National Agency for the Control of AIDS (NACA) into a multi-disease agency that will address HIV, TB, and malaria.
The new financing mechanism proposes:
Taxes on tobacco, alcohol, and other luxury items
Dedicated levies on telecom airtime and mobile money transactions
A percentage of the nation’s consolidated revenue
“These resources will provide sustainable funding to strengthen health systems and accelerate malaria elimination,” Ogar said, stressing that Africa must stop relying solely on foreign donors. “We cannot continue to take two steps forward and five steps backward. Africa must begin to show the world that we are ready to solve our problems ourselves.”
Similar models are already being piloted in Ghana and Uganda, where levies on mobile money and telecoms are being redirected to finance health interventions. The Abuja meeting urged other African countries to adopt this approach as part of a continental framework for sustainable financing.
Leaders Call for Urgent Action
Nigeria’s Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, emphasized that while malaria is preventable and treatable, it still kills hundreds of thousands yearly due to funding shortfalls, climate change, insecticide resistance, and humanitarian crises.
“To truly defeat this disease, we must rethink, join forces, and mount a concerted ‘Big Push’. Funding gaps remain a major obstacle, and innovative domestic financing is the way forward,” Salako declared.
From the civil society front, grassroots representatives pledged to act as “foot soldiers”, demanding that communities have a seat at the decision-making table. The World Health Organization, Bill & Melinda Gates Foundation, Aliko Dangote Foundation, and other partners reaffirmed support but stressed the need for stronger political will and local ownership.
Private Sector and Global Support
Representing billionaire philanthropist Aliko Dangote, the Nigeria Malaria Council reiterated that private sector investment must complement government financing. Meanwhile, the Global Fund confirmed it has invested nearly $2 billion in Nigeria’s malaria response and committed an additional $500 million for 2024–2026, including support for local production of malaria drugs.
The Gates Foundation’s Uche Anaowu noted that while progress has slowed, malaria remains beatable:
“Smallpox is the only human disease ever eradicated. The question is — can malaria be next? I believe Africa has both the burden and the opportunity to lead the world in making that happen.”
Financing Health Futures: Nigeria, Ghana, Uganda Turn to Tobacco and Telecom Taxes in Big Push Against Malaria
Abuja, Nigeria – African leaders, parliamentarians, health experts, and development partners have renewed their commitment to ending malaria by 2030, with a bold call for domestic financing through innovative taxation on tobacco, alcohol, and telecom services to close critical funding gaps.
The discussions took center stage at the Big Push Against Malaria: Harnessing Africa’s Role high-level political engagement in Abuja, where Nigeria, Ghana, and Uganda showcased new homegrown financing strategies aimed at reducing dependence on dwindling donor support.
Africa’s Heavy Burden
Malaria remains one of Africa’s deadliest diseases. In 2023, the world recorded 263 million cases and nearly 600,000 deaths, with 94% of cases and 95% of deaths occurring in Africa. Nigeria alone accounted for 26.6% of global cases and 31% of deaths, according to the World Malaria Report 2024. Children under five remain the most vulnerable, making up 76% of deaths.
Despite progress — with Nigeria cutting malaria deaths by more than half since 2000 through insecticide-treated nets, preventive treatments, and the rollout of the new R21 malaria vaccine — leaders warned that global targets are off-track. The World Health Organization’s technical strategy for malaria (2016–2030) has stalled since 2017, with Africa unlikely to meet its 2025 and 2030 milestones without urgent action.
Taxing for Health Futures
The Nigerian Parliament’s Committee on HIV/AIDS, Tuberculosis, and Malaria (ATM) announced plans to fund malaria elimination through “sin taxes” and telecom levies.
According to the House Chair on ATM, Hon. Linda Ogar, a bill is underway to restructure the National Agency for the Control of AIDS (NACA) into a multi-disease agency that will address HIV, TB, and malaria.
The new financing mechanism proposes:
Taxes on tobacco, alcohol, and other luxury items
Dedicated levies on telecom airtime and mobile money transactions
A percentage of the nation’s consolidated revenue
“These resources will provide sustainable funding to strengthen health systems and accelerate malaria elimination,” Ogar said, stressing that Africa must stop relying solely on foreign donors. “We cannot continue to take two steps forward and five steps backward. Africa must begin to show the world that we are ready to solve our problems ourselves.”
Similar models are already being piloted in Ghana and Uganda, where levies on mobile money and telecoms are being redirected to finance health interventions. The Abuja meeting urged other African countries to adopt this approach as part of a continental framework for sustainable financing.
Leaders Call for Urgent Action
Nigeria’s Minister of State for Health and Social Welfare, Dr. Iziaq Adekunle Salako, emphasized that while malaria is preventable and treatable, it still kills hundreds of thousands yearly due to funding shortfalls, climate change, insecticide resistance, and humanitarian crises.
“To truly defeat this disease, we must rethink, join forces, and mount a concerted ‘Big Push’. Funding gaps remain a major obstacle, and innovative domestic financing is the way forward,” Salako declared.
From the civil society front, grassroots representatives pledged to act as “foot soldiers”, demanding that communities have a seat at the decision-making table. The World Health Organization, Bill & Melinda Gates Foundation, Aliko Dangote Foundation, and other partners reaffirmed support but stressed the need for stronger political will and local ownership.
Private Sector and Global Support
Representing billionaire philanthropist Aliko Dangote, the Nigeria Malaria Council reiterated that private sector investment must complement government financing. Meanwhile, the Global Fund confirmed it has invested nearly $2 billion in Nigeria’s malaria response and committed an additional $500 million for 2024–2026, including support for local production of malaria drugs.
The Gates Foundation’s Uche Anaowu noted that while progress has slowed, malaria remains beatable:
“Smallpox is the only human disease ever eradicated. The question is — can malaria be next? I believe Africa has both the burden and the opportunity to lead the world in making that happen.”
The Big Push: From Talk to Action
Speakers acknowledged that Africa has hosted too many malaria meetings without concrete outcomes. This time, however, leaders insisted the Abuja gathering must mark a turning point — from dependency to self-reliance.
With Nigeria, Ghana, and Uganda setting the pace on tax-based health financing, the continent now faces the challenge of replicating and scaling up these models.
“Now that Africa is at a critical point, the need for a Big Push against malaria cannot be overemphasized. If we align political will, innovative financing, and community engagement, we can end malaria within our lifetime.”
Nigeria, Ghana, and Uganda are pioneering a shift from donor dependence to domestic revenue mobilization via tobacco, alcohol, and telecom taxes — a model hailed as central to financing Africa’s health futures and ending malaria by 2030
Speakers acknowledged that Africa has hosted too many malaria meetings without concrete outcomes. This time, however, leaders insisted the Abuja gathering must mark a turning point — from dependency to self-reliance.
With Nigeria, Ghana, and Uganda setting the pace on tax-based health financing, the continent now faces the challenge of replicating and scaling up these models.
“Now that Africa is at a critical point, the need for a Big Push against malaria cannot be overemphasized. If we align political will, innovative financing, and community engagement, we can end malaria within our lifetime.”
Nigeria, Ghana, and Uganda are pioneering a shift from donor dependence to domestic revenue mobilization via tobacco, alcohol, and telecom taxes — a model hailed as central to financing Africa’s health futures and ending malaria by 2030
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