Explain about Asian Infrastructure Investment Bank (AIIB)
Answers
Explanation:
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, we began operations in January 2016 and have now grown to 103 approved members worldwide.
Asian Infrastructure Investment Bank (AIIB) is multilateral development bank initiated by China with a purpose to provide finances to infrastructure development and regional connectivity projects in Asia-Pacific region. It is seen as Asia's response to West-dominated Asian Developemnt Bank (ADB) and World Bank (WB). The bank is headquartered at Beijing and officially started its operation from 2016. The Bank has current 57 signatories and is a founding member and is expected to have the second-largest shareholding after china