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What is Asian Infrastructure Bank (AIIB)?

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank established in 2016. It aims to support the financing of infrastructure projects in Asia and promote sustainable economic development in the region. The AIIB operates based on the principles of openness, transparency, and accountability.

Key aspects of the Asian Infrastructure Investment Bank include:

1. Membership: The AIIB has 103 approved members, including countries from Asia, Oceania, Europe, Africa, and the Americas. The members include both regional economies and non-regional economies, with a majority of the shareholders from Asia.

2. Infrastructure Focus: The primary focus of the AIIB is to provide financing and support for infrastructure projects in various sectors, including energy, transportation, telecommunications, water supply, and sanitation. These projects aim to promote economic growth, enhance connectivity, and address the infrastructure gap in the region.

3. Financing and Investments: The AIIB provides financial assistance through loans, guarantees, equity investments, and other financial instruments. It supports both public and private sector projects and collaborates with other development partners, such as other multilateral development banks and national development banks.

4. Sustainable Development: The AIIB integrates sustainable development principles into its operations. It emphasizes environmentally friendly and socially inclusive infrastructure projects that consider climate change, environmental protection, social inclusivity, and good governance.

5. Partnerships: The AIIB seeks to foster partnerships and collaboration with other international and regional institutions, governments, and private sector entities. It aims to leverage resources, knowledge, and expertise to maximize the impact of its investments and promote effective project implementation.

The AIIB operates through its governance structure, which includes a Board of Governors, Board of Directors, and various committees. Its decision-making processes ensure the participation of member countries and uphold the principles of equitable representation.

The AIIB has approved funding for numerous infrastructure projects across Asia, ranging from transportation networks and energy generation to urban development and water management. These projects contribute to economic development, regional integration, and improved living standards in the region.

The establishment of the AIIB has added to the landscape of development finance and infrastructure investment in Asia, providing an additional funding source for infrastructure projects and promoting greater connectivity and collaboration in the region.