President Moon Jae-in delivers his address at the second Asian Infrastructure Investment Bank (AIIB) annual meeting of the board of governors, at the Jeju International Convention Center on Jeju Island on June 16.

By Lee Hana
Photos = Cheong Wa Dae

President Moon Jae-in spoke at the second Asian Infrastructure Investment Bank (AIIB) annual meeting held at the Jeju International Convention Center on June 16, and vowed to share Korea`s development experience to help Asia`s developing economies.

"Korea will be Asia`s partner, accompanying the region`s developing nations on their journey to achieving economic and societal growth. We promise to fulfill our responsibility as the bridge between developing and developed nations," said the president.

Referring to infrastructure development projects undertaken by Korea, such as the Hanoi-Haiphong Expressway in Vietnam, the Panguil Bay Bridge in the Philippines, and the construction of a new terminal at the international airport in Tashkent, Uzbekistan, the president said that, "This kind of investment in infrastructure is what formed the groundwork for the `Miracle on the Han River.`"

The president stressed the importance of sustainable and inclusive growth, and the creation of new jobs, as some of the major factors that the AIIB should consider when supporting major infrastructure projects in the region.

"The AIIB`s investments in infrastructure, and our government`s preferred economic growth model, are moving in the same direction. Investments in new infrastructure should narrow gaps between countries across the region, to ensure development that is balanced, sustainable and beneficial to all members of society," he said.

"With solidarity and cooperation between our nations, we can overcome many of the challenges facing us today. I have no doubt that the AIIB will continue to bring people and regions together, and play a big role in opening up a better and brighter future," he said.

President Moon Jae-in (front row, center) and representatives from 73 Asian Infrastructure Investment Bank (AIIB) member states pose for a picture at the second AIIB annual meeting of the board of governors, at the Jeju International Convention Center on June 16.

This year`s AIIB annual meeting, launched under the theme of "sustainable infrastructure," was attended by around 1,500 people, including representatives from 73 AIIB member countries. Over the course of three days, the members discussed cooperation measures and management schemes for the AIIB.

On the sidelines of the meeting, the Korean government agreed to provide USD 8 million to the AIIB Project Preparation Special Fund. The fund was established in June last year to provide assistance during the early stages of infrastructure projects in emerging countries. Korea is now the second-largest investor in the fund, behind China.

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