BEIJING, China, July 19: The Asian Infrastructure Investment Bank (AIIB) headquarters in Beijing witnessed a ceremonial flag-raising on Friday to mark the State of Kuwait's accession as a full founding member of the bank's Board of Governors.

The event, held at the AIIB headquarters, was attended by the bank's President, Jin Liqun, and Kuwait's Ambassador to China, Jassim Al-Najem. The ceremony symbolized the completion of Kuwait’s formal accession process, affirming its commitment to regional development and sustainable infrastructure initiatives.

In a statement to KUNA, Ambassador Al-Najem described the occasion as the culmination of ongoing efforts to finalize Kuwait’s full membership, which had remained in progress since Kuwait was named a founding country of the AIIB in 2015. He noted that the recent momentum in completing membership procedures was driven by the strategic vision and support of Kuwait’s top political leadership.

"This step reflects Kuwait’s commitment to strengthening its development partnerships, particularly in the areas of infrastructure, energy, and environmental sustainability," Al-Najem said.

During the ceremony, Ambassador Al-Najem was formally presented with the certificate of full membership, underscoring Kuwait’s dedication to supporting the bank’s mission and its wider goals of carbon neutrality and combating climate change, especially in the Gulf region.

In his address, AIIB President Jin Liqun welcomed Kuwait's accession and praised its expected contributions to the bank’s efforts in sustainable development. He emphasized Kuwait’s potential role in advancing smart infrastructure and renewable energy projects across Asia.

"The AIIB is a platform for international cooperation built on mutual trust," Jin said, noting the bank’s growing partnerships with Gulf Cooperation Council (GCC) countries, including ongoing projects in Saudi Arabia and Oman.

President Jin also expressed interest in visiting Kuwait in the near future to hold high-level meetings aimed at expanding cooperation and enhancing Kuwait’s role within the AIIB framework. He proposed coordinating efforts to align on strategic priorities and project financing.

The flag-raising event follows the AIIB’s annual meeting held last May, during which a new president was elected. The new president is expected to assume office in January 2026. Preparations are currently underway for the next annual meeting, scheduled to take place in Doha, Qatar, in 2026.

Founded in 2014, the Asian Infrastructure Investment Bank now includes 103 member countries. The bank focuses on financing sustainable infrastructure projects in sectors such as energy, transportation, telecommunications, urban development, and logistics.