Tanzania is seeking to deepen its engagement with the Asian Infrastructure Investment Bank (AIIB) as the multilateral lender moves to significantly expand financing for infrastructure projects across its member countries.
Finance Minister Ambassador Khamis Mussa Omar attended the official opening of the 11th Annual Meeting of the AIIB Board of Governors in Doha, marking Tanzania's first participation in the meeting since joining the bank as a member in 2025.
The meeting comes as the AIIB outlines plans to increase its annual financing capacity to $700 billion, a move that could widen access to funding for infrastructure and development projects in member countries.
AIIB President Zou Jiayi said the bank's new strategic direction would focus on expanding infrastructure investment while strengthening its capacity to support climate resilience, digital transformation, regional connectivity, environmental protection and human-centred development.
The push is significant for developing economies facing growing demand for roads, energy, water, digital networks and other infrastructure needed to support economic activity and improve access to essential services.
Ms Zou said Asia alone requires about $3 trillion in infrastructure investment each year, a level she said governments could not meet on their own.
She called for stronger cooperation between governments, private investors and development partners to close the infrastructure financing gap.
For Tanzania, which became an AIIB shareholder in 2025, the institution provides another potential avenue for mobilising financing and technical expertise for infrastructure development.
The country's participation also gives it a platform to engage with other member states and financial institutions on projects aimed at improving economic connectivity and supporting long-term growth.
Ms Zou said the AIIB would strengthen its technical expertise and improve its business model and financial instruments to deliver greater development impact.
She said innovation would remain central to the bank's strategy, alongside maintaining financial sustainability, institutional strength and operational efficiency.
The AIIB currently has 111 approved member countries, including 53 regional and 58 non-regional members, according to Ms Zou.
The bank has approved more than $76 billion for 384 infrastructure projects in member countries.
The latest meeting is therefore expected to shape the bank's next phase of financing at a time when infrastructure investment remains a key priority for developing economies.
For Tanzania, its first annual meeting as an AIIB member provides an opportunity to strengthen relations with the institution and explore areas where international infrastructure financing can complement domestic investment in development projects.