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.
Foreign news
Namibia Embassy Celebrates 35th Independence Anniversary in Abuja
…As Nigeria-Namibia Trade Relations Expand
By Joel Ajayi
The Namibian Mission in Nigeria recently marked the 35th Independence Anniversary of Namibia with a vibrant celebration in Abuja, marked by pomp and excitement.
Speaking at the event, His Excellency Humphrey Geiseb, High Commissioner of the Republic of Namibia to Nigeria, commended the resilience of every Namibian who fought for the country’s freedom and democracy.
“This day reminds us of the sacrifices made by countless Namibians who gave their lives for our freedom. As our national anthem says, ‘Their blood waters our freedom.’ Namibia’s independence on 21 March 1990 was the result of a long and tireless struggle. We continue to honor the legacy of those who fought for a free and democratic nation,” he stated.
He emphasized that this year’s celebration holds additional significance:
“A few weeks ago, Namibia witnessed the inauguration of Her Excellency Dr. Netumbo Nandi-Ndaitwah as the 5th President of the Republic of Namibia. This marks a historic milestone, not only for our country but for the entire SADC region, as she is the first woman to hold the highest office in the land.”
He praised the progress Namibia has made in gender representation, noting that President Ndaitwah’s administration includes a female Vice President, nine women Cabinet Ministers, and a female Speaker of Parliament.
“This shows that women occupy top leadership positions in Namibia, demonstrating that they can lead with strength, vision, and wisdom,” he said.
Reflecting on Nigeria’s role in Namibia’s independence struggle, the High Commissioner expressed deep gratitude:
“Namibia’s fight for independence would not have been successful without the unwavering support of our international friends, and Nigeria was a key partner. From the 1960s to the 1980s, Nigeria welcomed Namibians—particularly students—and supported liberation movements in Southern Africa through political, economic, diplomatic, and logistical means.”
He noted that, since independence, Namibia has enjoyed peace and political stability for 35 years without internal conflict. However, challenges such as poverty and unemployment persist. The government remains committed to improving living standards and achieving the goals of Vision 2030, aiming to solidify its high middle-income status.
Despite challenges in securing financial support due to its middle-income classification, Namibia continues to advance across multiple sectors.
Geiseb also acknowledged Nigeria’s contribution to strengthening bilateral ties.
“I want to sincerely thank the Federal Republic of Nigeria for the successful outcomes of the 5th Session of the Namibia-Nigeria Joint Permanent Commission of Cooperation, held in February 2025 in Namibia.”
That session resumed official dialogue between the two nations after a 15-year hiatus and introduced new mechanisms for deepening collaboration.
Highlighting growing economic ties, the High Commissioner mentioned that two Nigerian companies—Premier Charcoal and King Charcoal—are thriving in Namibia’s charcoal industry, exporting high-quality products to the international market. Additionally, Namibia exports salt worth approximately $5–6 million annually to Nigeria.
“We look forward to further expanding our trade relations, and we hope Nigerian products will soon be available in Namibian supermarkets,” he said.
He concluded by appreciating Nigerian President Bola Ahmed Tinubu and the entire Nigerian government for their continued support in strengthening Namibia-Nigeria bilateral relations.
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