Stretching across the Dak Cheung District of Sekong Province and the Sanxay District of Attapeu Province in Laos, 133 wind turbines rise from the ridgelines, marking the Monsoon Wind Power Project – the first of its kind in Laos and the largest single wind power project in Southeast Asia.

Achieving its full-capacity commercial operation in August, 2025, the project is expected to generate approximately 1.72 billion kilowatt-hours of electricity annually, helping reduce carbon emissions by around 1.56 million tonnes.

This groundbreaking green initiative is supported by the Asia Infrastructure Investment Bank (AIIB), a key player in driving sustainable development across the globe.

Jin Liqun, founding president of the AIIB, emphasized the project's impact: "Our project benefits people's livelihoods and sustainable development while effectively enhancing the development capabilities of our member countries."

The AIIB was founded in 2015 and became operational on January 16, 2016 when an inauguration ceremony was held in Beijing, China.

Chinese President Xi Jinping said at the ceremony that "I hope and believe that through the joint efforts of all member states, the AIIB will become a new multilateral development bank for the 21st century that is professional, efficient and clean in operation."

A decade of impact

In the years since, AIIB's growth has been remarkable. From 57 founding members, the bank has expanded to 110 members spanning six continents, covering 81 percent of the world's population and 65 percent of global GDP. In November 2025, Colombia became the latest country to join as a prospective member on its way to full membership. Furthermore, since 2017, AIIB has maintained AAA credit ratings with a stable outlook from top agencies like Standard & Poor's, Moody's, and Fitch.

Meanwhile, the AIIB has approved nearly $70 billion in financing for 360 projects, leveraging more than $200 billion in infrastructure investment over the past decade.

These investments have translated into significant developmental outcomes – over 51,000 kilometers of transportation infrastructure have been supported cumulatively, enhancing the travel convenience for 410 million people. Energy projects can reduce greenhouse gas emissions by nearly 30 million tonnes of carbon dioxide equivalent each year. About 8.71 million people have access to a safer supply of drinking water. Nearly 5,000 hectares of land have been protected through flood control infrastructure, and over 13 million people have benefited from flood prevention measures.

One standout example is the electrification of rural Bangladesh. In 2016, AIIB provided $165 million to upgrade the local power grid, bringing electricity to 12.5 million rural residents. Similarly, in Côte d'Ivoire, a 2023 AIIB-financed rural road project has alleviated transportation bottlenecks, allowing local residents to access hospitals and markets, even during flood seasons.

The AIIB's projects, spanning Asia, Africa, and beyond, are closing infrastructure gaps and improving lives around the world.

A Platform for Multilateral Cooperation

Beyond its tangible benefits, AIIB has become a vital platform for fostering multilateral cooperation. In the bank, developing countries hold approximately 70 percent of shares, while developed countries account for around 30 percent. This structure encourages collaboration between major and minor shareholders, ensuring that all voices are heard and consensus-based cooperation is prioritized.

The AIIB has also established more than 100 partnerships with multilateral development institutions and financial organizations. These collaborations have led to the joint financing of over 130 projects with other multilateral development banks, reinforcing the AIIB's role as a key player in global development.

The aforementioned Monsoon Wind Power Project in Laos exemplifies such collaboration, where AIIB has worked with other global lenders to achieve a shared goal of sustainable energy development.

"The achievements of the AIIB would not have been possible without its consistent adherence to multilateralism," Jin said, citing the expansion of its membership and the growing scale of its projects.

As the world faces growing challenges of unilateralism and trade protectionism, multilateral cooperation has become even more crucial. Selçuk Colakoglu, director of the Turkish Centre for Asia-Pacific Studies, highlighted AIIB's role in promoting global cooperation and addressing the pressing challenges of global development. "China has taken proactive measures to promote global cooperation, governance, and development in response to severe challenges in the field of global development," he said.

Looking ahead, with Zou Jiayi set to lead the AIIB from Friday onwards and Colombia advancing toward full membership, the bank is poised to continue its work. The AIIB will harness collective wisdom and efforts to contribute to global governance and further strengthen multilateral collaboration.