SAMARKAND: Singapore urges Asian Infrastructure Investment Bank (AIIB) to continue evolving and responding to emerging challenges with innovative solutions, said Indranee Thurai Rajah, Minister in the Prime Minister's Office and Second Minister for Finance and National Development of Singapore, at the AIIB Annual Meeting in Samarkand, Trend reports. She highlighted AIIB's collaborative efforts in Uzbekistan, particularly the co-financing of a 220-megawatt solar power plant, which promises to enhance the country's energy resilience while ensuring no net loss to biodiversity or negative environmental impacts. Rajah expressed her enthusiasm for the rich discussions that are expected over the coming days, noting that many more inspirational projects would be shared, showcasing the tangible benefits of AIIB's initiatives. She specifically pointed to recent developments such as climate-based policy financing and the issuance of a U.S. dollar sustainability development bond as prime examples of AIIB's commitment to addressing global imperatives. "These innovations reflect the Bank's management and board's dedication to tackling current and future challenges head-on," Rajah stated. Singapore, as a founding member of AIIB, stands ready to deepen its collaborations with the Bank and other member economies. "We are prepared to contribute significantly, whether through innovative financing tools or developing capital markets that can unlock new investors," she added. Rajah concluded by expressing optimism for the discussions ahead, emphasizing the shared commitment among member nations to enhance infrastructure development, promote sustainability, and foster economic growth across Asia and beyond. The AIIB Annual Meeting, which features over 25 panel discussions focused on innovations in financing infrastructure, climate resilience, and sustainable development, sets the stage for robust collaboration among member nations in addressing pressing global challenges. Source: Trend News Agency