Tashkent, Uzbekistan (UzDaily.com) — As part of the 9th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), a session titled "Best Practices for Sustainable Cross-Border Connectivity in Central Asia" was held, focusing on key aspects of transportation and energy infrastructure development in this strategically important region.

Speakers included Wan Zhongjing, CEO of the Multilateral Cooperation Center for Development Financing; Mei Ali Babiker, Regional Manager of the Islamic Development Bank (IDB); Konstantin Limitovsky, Vice President for Investment Clients in Region 2 and Project and Corporate Finance at AIIB; Curtis S. Chin, Chair of Global Fellows and Senior Advisor on Global Markets at the Milken Institute; Sultan Rahimzoda, Chairman of the State Committee for Investments and State Property Management of Tajikistan; Ruslan Tatikov, Deputy Minister of Finance of Kyrgyzstan; and John Zaidi, Head of ACWA Power’s Representation in Uzbekistan.

Central Asia plays a crucial role as a transportation and energy hub connecting Asia with Europe. However, landlocked countries in the region face high transportation costs and fragmented electrical grids, complicating economic integration and cooperation.

"Improving infrastructure connectivity and promoting regional cooperation are key elements of AIIB’s mission, playing a vital role in enhancing competitiveness, productivity, and development in Asia, particularly in Central Asia," noted panelist Konstantin Limitovsky. "AIIB aims to strategically invest in infrastructure to improve both domestic and cross-border connections, supporting projects that foster regional integration and collaboration."

During the session, participants discussed how multilateral development banks can effectively cooperate with regions to mobilize capital from international financial institutions and the private sector, aiming to improve cross-border connectivity within Central Asia and with neighboring regions such as West and East Asia, the Middle East, and Europe. Examples of infrastructure projects were presented to demonstrate how cross-border links can facilitate trade and investment while highlighting the role of multilateral financial institutions (MFIs) in supporting the design, planning, and implementation of such projects.

John Zaidi, Head of ACWA Power’s Representation in Uzbekistan, emphasized, "We are seeing significant excitement in the region around renewable energy, and we are a source from which it all begins. We are eager to initiate discussions on increasing opportunities for various forms of partnerships between governments and the private sector, and I believe we can develop renewable energy in a way that positions Central Asia as a future hub for renewable energy."

In conclusion, participants noted that successful development of cross-border infrastructure in Central Asia requires close collaboration between multilateral financial institutions and the private sector, contributing to sustainable economic development and enhancing integration between Asia and Europe.