At the Asian Infrastructure Investment Bank (AIIB) 10th Annual Meeting, State Bank of Vietnam Deputy Governor Nguyễn Ngọc Cảnh, acting as Viet Nam’s Alternate Governor to AIIB, spoke at the Governors' Business Roundtable, reviewing AIIB’s first decade and outlining priorities for its next phase, including stronger strategic risk management, greater mobilisation of private capital and a higher emphasis on cross-border connectivity. His remarks highlighted a weaker global growth outlook and sustained demand for green and climate-resilient infrastructure, noting that infrastructure accounts for 79% of global greenhouse-gas emissions and 88% of climate-adaptation costs. He cited AIIB’s expansion from 57 founding members in 2016 to 110 members, and more than 300 approved projects with committed financing exceeding USD 60bn across sectors including sustainable energy, transport, urban infrastructure and climate resilience. He also flagged challenges, including AIIB’s relatively modest financing footprint in some members, the feasibility and risk-management implications of AIIB’s target of reaching 50% private sector financing by 2030, and maintaining project quality and efficiency as staffing grows towards around 1,000 by 2030. Four strategic recommendations were set out: strengthen strategic risk management amid geopolitical fragmentation, climate acceleration, technology disruption and debt-sustainability concerns; take a more proactive role in mobilising private capital; embed the “Lean, Clean, Green” principles across operations; and step up efforts to meet a 25–30% target for cross-border connectivity investments. In a second intervention on infrastructure connectivity, he pointed to ASEAN’s connectivity agenda and an estimated need of USD 210bn per year through 2030 for transport links, connectivity infrastructure, renewable energy and climate-resilient assets, and described Viet Nam’s ongoing upgrades to economic corridors, cross-border rail links and logistics infrastructure. He proposed four ways for AIIB to increase impact: expand policy support for project preparation, promote regulatory harmonisation for cross-border activities, scale blended-finance solutions to crowd in private capital, and pilot “smart” technology and climate corridors. Separately, in a bilateral meeting with China’s Minister of Finance Lan Fo’an, he sought support for deeper cooperation on major infrastructure projects, including rail links connecting Viet Nam and China.
State Bank of Vietnam 2025-06-26
State Bank of Vietnam sets out four strategic recommendations for AIIB and urges more support for cross-border connectivity projects
At the AIIB 10th Annual Meeting, State Bank of Vietnam Deputy Governor Nguyễn Ngọc Cảnh emphasized stronger strategic risk management, increased private capital mobilization, and enhanced cross-border connectivity. He highlighted AIIB's growth to 110 members and over USD 60bn in committed financing, addressing challenges like achieving 50% private sector financing by 2030. He discussed ASEAN's connectivity agenda, proposing expanded policy support, regulatory harmonization, and blended-finance solutions to enhance AIIB's impact.