The Third Annual Governors Meeting of Asian Infrastructure Investment Bank [AIIB] will be held in Mumbai, India from 24-25 June 2018. This two-year-old multilateral bank is investing in all major sectors, including energy, without robust policies on environmental-social safeguards, transparent public disclosure and an accountability/complaint handling mechanism. Out of the total 24 projects, it has financed, USD 4.4 billion has already been approved. India is the biggest recipient from AIIB with more than 1.2 billion USD supporting about six projects including Transmission lines, Capital City Development at Amravati, rural roads etc with another 1 billion USD in proposed projects.
These data are but a few from among the many that come out periodically which, we are aware, will straightaway affect our democratic systems, land, water, forests, food, livelihoods, structures and the very air we breathe on a daily basis. All these raise our concerns to an alarming level that we are forced to reflect and act on the rapid ‘reforms’ which happen in the guise of development. Unlike World Bank and ADB who claim their development agenda in the name of reduction in poverty and inequality, AIIB never conceals their huge interests in infrastructure financing.
Peoples’ Convention on Infrastructure Financing – A Response to AIIB (Asian Infrastructure Investment Bank) Annual Meeting is the coming together of various groups, on June 21-23, 2018, working towards a just and equitable society, threatened by the massive infrastructure push resulting in displacement and dispossession of the marginalized and destruction of natural resources, on which their livelihoods depend.
At the Convention, there will be multiple workshops organised by the WGonIFIs in Mumbai during June 21-23, 2018. You can click here to participate as an individual or an organisation.
To know more about the Convention, AIIB and other IFIs, visit https://wgonifis.net
Here is the work done by CFA on the Bank.
You can access the collective work done by the Working Group on IFIs here: