Asian Infrastructure Investment Bank officially launched

AIIB3The China-initiated Asian Infrastructure Investment Bank (AIIB), has been officially launched in Beijing and is expected to start operation in early 2016. The launch of the bank has came just six months after an article of agreement (AOA) was signed by 57 prospective founding members in June, and 26 months after President Xi Jinping proposed it in October 2013. It is the first major multilateral lender with developing countries holding the majority of the shares and votes. The AIIB will be operational after board of directors and executive council meet for the first time. The meetings are slated to from January 16 to 18 in Beijing. Read More

Comment Here

Leave a Reply