The Cook Islands calls on AIIB to be the catalyst in designing innovative financing instruments
to give us a fair go at making meaningful interventions within our communities
Cook Islands Associate Minister (AM) of Finance, Hon. Tingika Elikana recently attended the eight annual meeting of the Asian Infrastructure Investment Bank (AIIB) in Sharm El-Sheikh, Egypt. Held on September 25 - 26, the annual meeting was the first to be organised in the African continent, and the first to be physically held after the Covid-19 pandemic.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow – green infrastructure with sustainability, innovation and connectivity at its core. At present, AIIB has 109 member countries.
The AM Elikana participated in the Governors' Business Roundtable, a forum to discuss strategic policies for the future development of AIIB. He also held bilateral discussions with other Members of the Banks and AIIB staff.
According to the AM Elikana, the issue of access to climate finance is still the main topic of discussion. “Climate financing for adaptation purposes is vital for countries like ours, those that are on the frontlines of climate change. We are no longer fighting for just our existence; we are fighting for our survival” he said while delivering the Cook Islands Country Statement.
The AIIB, he stressed, has an important role to play as a catalyst in designing various financing instruments that are equitable and give us a fair go at making meaningful interventions within our communities to address the many challenges we face.
The Cook Islands became a member of the AIIB in 2020.