The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. The bank currently has 72 members as well as 28 prospective members from around the world.[1] The bank started operation after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock.[4]

The United Nations has addressed the launch of AIIB as having potential for "scaling up financing for sustainable development"[5] and to improve the global economic governance.[6] The starting capital of the bank was $100 billion, equivalent to ​23 of the capital of the Asian Development Bank and about half that of the World Bank.[7]

The bank was proposed by China in 2013[8] and the initiative was launched at a ceremony in Beijing in October 2014.[9] It received the highest credit ratings from the three biggest rating agencies in the world, and is seen as a potential rival to the World Bank and IMF.[10][11]


The proposal for the creation of an "Asian Infrastructure Investment Bank" was first made by the Vice Chairman of the China Center for International Economic Exchanges, a Chinese thinktank, at the Bo'ao Forum in April 2009. The initial context was to make better use of Chinese foreign currency reserves in the wake of the global financial crisis.[12]

The initiative was officially launched by Chinese President Xi Jinping on a state visit to Indonesia in October 2013.[13] The Chinese government has been frustrated with what it regards as the slow pace of reforms and governance, and wants greater input in global established institutions like the IMF, World Bank and Asian Development Bank which it claims are heavily dominated by American, European and Japanese interests.[14]

In April 2014, Chinese Premier Li Keqiang delivered a keynote speech at the opening of the Boao Forum for Asia and said that China was ready to intensify consultations with relevant parties in and outside Asia on the preparations for the Asian Infrastructure Investment Bank.[15][16]

The Asian Development Bank Institute published a report in 2010 which said that the region requires $8 trillion to be invested from 2010 to 2020 in infrastructure for the region to continue economic development.[14][17] In a 2014 editorial, The Guardian newspaper wrote that the new bank could allow Chinese capital to finance these projects and allow it a greater role to play in the economic development of the region commensurate with its growing economic and political clout.[18] But until March 2015, China in the ADB has only 5.47 percent voting right, while Japan and US have a combined 26 percent voting right (13 percent each) with a share in subscribed capital of 15.7 percent and 15.6 percent, respectively. Dominance by both countries and slow reforms underlie China's wish to establish the AIIB, while both countries worry about China's increasing influence.[19]

In June 2014 China proposed doubling the registered capital of the bank from $50 billion to $100 billion and invited India to participate in the founding of the bank.[20][21] On 24 October 2014, twenty-one countries signed a Memorandum of Understanding (MOU) regarding the AIIB in Beijing, China: Bangladesh, Brunei, Cambodia, India, Kazakhstan, Kuwait, Laos, Malaysia, Myanmar, Mongolia, Nepal, Oman, Pakistan, Philippines, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan and Vietnam.[22] Indonesia's joining was slightly delayed due to their new presidential administration not being able to review the membership in time. Indonesia signed the MOU on 25 November 2014.[23]

The U.S. allegedly tried to keep Australia and South Korea from becoming prospective founding members, after they expressed an interest in it.[24] However, both Australia and South Korea applied to join the bank in March 2015.[25][26][27]

Hong Kong's Financial Secretary John Tsang announced in his budget speech in February 2015 that the territory would join the AIIB.[28] It did however not become one of the prospective founding members and negotiated as part of the Chinese delegation.

In early March 2015, the United Kingdom's Chancellor of the Exchequer, George Osborne, announced that the UK had decided to apply to join the Bank, becoming the first major Western country to do so.[29] The announcement was criticised by the U.S. Obama Administration. A US government official told Financial Times, "We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power." The official further stated that the British decision was taken after "no consultation with the US."[30] In response, the UK indicated that the subject had been discussed between Chancellor Osborne and US Treasury Secretary Jack Lew for several months preceding the decision. It was further stated that joining the bank as a founding member would allow the UK to influence the development of the institution. By encouraging Chinese investments in the next generations of nuclear power plants, Osborne announced that "the City of London would become the base for the first clearing house for the yuan outside Asia."[31]

Following the criticism, the White House National Security Council, in a statement to The Guardian, declared,

Our position on the AIIB remains clear and consistent. The United States and many major global economies all agree there is a pressing need to enhance infrastructure investment around the world. We believe any new multilateral institution should incorporate the high standards of the World Bank and the regional development banks. Based on many discussions, we have concerns about whether the AIIB will meet these high standards, particularly related to governance, and environmental and social safeguards […] The international community has a stake in seeing the AIIB complement the existing architecture, and to work effectively alongside the World Bank and Asian Development Bank.[32]

Several other European states – including Germany, France and Italy – followed the UK's decision to join the AIIB in March.[33] German Finance Minister Wolfgang Schäuble stated, "We want to contribute our long-standing experience with international financial institutions to the creation of the new bank by setting high standards and helping the bank to get a high international reputation."[34] In March 2015, the South Korean Ministry of Strategy and Finance announced that it, too, is planning to join the AIIB, citing its potential in helping South Korean companies win deals in infrastructural projects as well expanding South Korea's influence in international banking as a founding member.[35] States could indicate their interest in becoming a Prospective Founding Member until 31 March 2015.

Negotiations took place in the framework of five Chief Negotiators Meetings (CNMs) which took place between November 2014 and May 2015. The Articles of Agreement, the legal framework of the bank, were concluded in the fifth CNM. It was signed on 29 June 2015 by 50 of the named 57 prospective founding members in Beijing, while the other seven signed later.

On 25 December 2015, the Articles of Agreement entered into force. On 16 January 2016, the board of governors of the bank convened its inaugural meeting in Beijing and declared the bank open for business. Jin Liqun was elected as the bank's president for a five-year term. 17 states (Australia, Austria, Brunei, China, Georgia, Germany, Jordan, Luxembourg, Mongolia, Myanmar, the Netherlands, New Zealand, Norway, Pakistan, Singapore, South Korea and the United Kingdom) together holding 50.1% of the initial subscriptions of Authorized Capital Stock, had deposited the instrument of ratification for the agreement, triggering entry into force, and making them all founding members[36] and bringing the Articles of Agreement, the bank's charter, into force. 35 other states followed later, taking the amount of Authorized Capital Stock held by the 29 members of the bank to 74%.

AIIB within PRC policy thinking

Fostering long-term economic development

The Asian Infrastructure Investment Bank can be construed as a natural inter-national extension of the infrastructure-driven economic development framework that has sustained the rapid economic growth of China since the adoption of the Chinese economic reform under chairman Deng Xiaoping. It stems from the notion that long-term economic growth can only be achieved through systematic, and broad-based investments in infrastructure assets – in contrast with the more short-term "export-driven" and "domestic consumption" development models favored by mainstream Western Neoclassical economists and pursued by many developing countries in the 1990s and the first decade of the 21st century with generally disappointing results.[37][38]

Infrastructure as regional integration and foreign policy tool

In his 29 March 2015 speech at the Boao Forum for Asia (BFA) annual conference, President Xi Jinping said:

[T]he Chinese economy is deeply integrated with the global economy and forms an important driving force of the economy of Asia and even the world at large. […] China's investment opportunities are expanding. Investment opportunities in infrastructure connectivity as well as in new technologies, new products, new business patterns, and new business models are constantly springing up. […] China's foreign cooperation opportunities are expanding. We support the multilateral trading system, devote ourselves to the Doha Round negotiations, advocate the Asia-Pacific free trade zone, promote negotiations on regional comprehensive economic partnership, advocate the construction of the Asian Infrastructure Investment Bank (AIIB), boost economic and financial cooperation in an all-round manner, and work as an active promoter of economic globalization and regional integration[15]

Xi insisted also that the Silk Road Fund and the Asian Infrastructure Investment Bank would foster "economic connectivity and a new-type of industrialization [in the Asia Pacific area], and [thus] promote the common development of all countries as well as the peoples' joint enjoyment of development fruits."[15][39]

Legal basis and membership

Articles of Agreement of the Asian Infrastructure Investment Bank
  Prospective members (regional)
  Members (regional)
  Prospective members (non-regional)
  Members (non-regional)
Signed29 June 2015
LocationBeijing, China
Effective25 December 2015
ConditionRatification by 10 states, comprising 50% of initial subscriptions of capital stock[2]
Parties72 (96% of initial subscriptions of capital stock)[40]
DepositaryGovernment of the People’s Republic of China[2]
LanguagesChinese, English (used in disputes) and French[2]

The Articles of Agreement form the legal basis for the Bank. 57 Prospective Founding Members (PFM) named in annex A of the agreement are eligible to sign and ratify the Articles, thus becoming a member of the Bank. Other states, which are parties to the International Bank for Reconstruction and Development or the Asian Development Bank may become members after approval of their accession by the bank.[4]

The Articles were negotiated by the Prospective Founding Members, with Hong Kong joining the negotiations via China.[41][42]


The 57 Prospective Founding Members can become Founding Members through:

  • Signing the Articles of Agreement in 2015
  • Ratifying the Articles of Agreement in 2015 or 2016

All Prospective Founding Members have signed the Articles, 52 of which have ratified them, comprising 92% of the shares of all PFM. The formal actions towards becoming a Founding Member are shown below, as well as the percentage of the votes and of the shares, in the event all prospective founding states become parties, and no other members are accepted.

In March 2017, 13 other states were granted prospective membership: 5 regional (Afghanistan, Armenia, Fiji, Timor Leste and Hong Kong, China) and 8 non regional: Belgium, Canada, Ethiopia, Hungary, Ireland, Peru, Sudan and Venezuela. In May 2017, 7 states were granted prospective membership: 3 regional (Bahrain, Cyprus, Samoa) and 4 non regional (Bolivia, Chile, Greece, Romania). In June 2017, 3 other states were granted prospective membership: 1 regional (Tonga) and 2 non regional (Argentina, Madagascar).[43] In 2018, 7 other states were granted prospective membership: 1 regional (Lebanon) and 6 non regional (Algeria, Ghana, Libya, Morocco, Serbia, Togo).[44][45] In 2019, 7 other states were granted prospective membership: 7 non regional (Djibouti, Rwanda, Benin, Côte d’Ivoire, Guinea, Tunisia, Uruguay).[46] They become members after finishing their domestic procedures. As of 22 April 2019, the total number of countries approved for membership of AIIB is 100 (Regional Members: 44, Non-Regional Members: 28, Prospective Members: 28).[47]

Country / Region Prospective Founding
Member status
Ratification or Acceptance
Total Subscriptions
(Amount of Shares in
millions USD)[2]
Voting Power
(Number of Votes)[2]
 Afghanistan 13 October 2017 86.6 2,624
 Argentina 5.0 1,700
 Australia 3 April 2015[48] 29 June 2015 10 November 2015 3,691.2 39,443
 Austria 11 April 2015[49] 29 June 2015 3 December 2015 500.8 7,539
 Azerbaijan 15 April 2015[50] 29 June 2015 24 June 2016 254.1 5,072
 Bahrain 24 August 2018 103.6 2,967
 Bangladesh[a] 24 October 2014 29 June 2015 22 March 2016 660.5 9,136
 Belarus 17 January 2019 64.1 2,572
 Belgium 12 July 2019
 Brazil 12 April 2015[51] 29 June 2015 5.0 [52]2,300
 Brunei[a] 24 October 2014 29 June 2015 12 October 2015 52.4 3,055
 Cambodia[a] 24 October 2014 29 June 2015 17 May 2016 62.3 3,154
 Canada 19 March 2018 995.4 11,885
 China[a] 24 October 2014 29 June 2015 26 November 2015 29,780.4 300,335
 Cook Islands
 Côte d’Ivoire
 Cyprus 27 June 2018 20.0 2,131
 Denmark 12 April 2015[51] 27 October 2015 14 January 2016 369.5 6,226
 Egypt 14 April 2015[53] 29 June 2015 12 August 2016 650.5 9,036
 Ethiopia 13 May 2017 45.8 2,389
 Fiji 11 December 2017 12.5 2,056
 Finland 12 April 2015[51] 29 June 2015 7 January 2016 310.3 5,634
 France 2 April 2015[54] 29 June 2015 16 June 2016 3,375.6 36,287
 Georgia 12 April 2015[51] 29 June 2015 14 December 2015 53.9 3,070
 Germany 1 April 2015[55] 29 June 2015 21 December 2015 4,484.2 47,373
 Guinea 13 July 2019
 Hong Kong 7 June 2017 765.1 8,052
 Hungary 16 June 2017 100.0 2,931
 Iceland 15 April 2015[50] 29 June 2015 4 March 2016 17.6 2,707
 India[a] 24 October 2014 29 June 2015 11 January 2016 8,367.3 86,204
 Indonesia[a] 25 November 2014[23] 29 June 2015 14 January 2016 3,360.7 36,138
 Iran 7 April 2015[56] 29 June 2015 6 January 2017 1,580.8 15,177
 Ireland 23 October 2017 131.3 3,244
 Israel 15 April 2015[50] 29 June 2015 15 January 2016 749.9 10,030
 Italy 2 April 2015[54] 29 June 2015 13 July 2016 2,571.8 28,249
 Jordan 7 February 2015 29 June 2015 25 December 2015 119.2 3,723
 Kazakhstan[a] 24 October 2014 29 June 2015 18 April 2016 729.3 9,736
 South Korea 11 April 2015[49] 29 June 2015 11 December 2015 3,738.7 39,918
 Kuwait 24 October 2014 4 December 2015 536.0
 Kyrgyzstan 9 April 2015[57] 29 June 2015 11 April 2016 26.8 2,799
 Laos[a] 24 October 2014 29 June 2015 15 January 2016 43.0 2,961
 Luxembourg 27 March 2015[58] 29 June 2015 9 December 2015 69.7 3,228
 Madagascar 27 June 2018 5.0 1,981
 Malaysia 24 October 2014 21 August 2015[59] 27 March 2017 109.5 3,626
 Maldives 31 December 2014[60] 29 June 2015 4 January 2016 7.2 2,603
 Malta 9 April 2015[57] 29 June 2015 7 January 2016 13.6 2,667
 Mongolia[a] 24 October 2014 29 June 2015 27 November 2015 41.1 2,942
 Myanmar[a] 24 October 2014 29 June 2015 1 July 2015 264.5 5,179
   Nepal[a] 24 October 2014 29 June 2015 13 January 2016 80.9 3,340
 Netherlands 12 April 2015[51] 29 June 2015 16 December 2015 1,031.3 12,844
 New Zealand 5 January 2015[61] 29 June 2015 9 December 2015[62] 461.5 7,146
 Norway 14 April 2015[53] 29 June 2015 22 December 2015 550.6 8,037
 Oman[a] 24 October 2014 29 June 2015 21 June 2016 259.2 5,123
 Pakistan[a] 24 October 2014 29 June 2015 22 December 2015 1,034.1 12,863
 Papua New Guinea
 Philippines 24 October 2014 31 December 2015 6 December 2016 979.1 12,322
 Poland 15 April 2015[50] 9 October 2015 20 April 2016[63] 831.8 10,849
 Portugal 15 April 2015[50] 29 June 2015 8 February 2017 65.0 3,181
 Qatar[a] 24 October 2014 29 June 2015 24 June 2016 604.4 8,575
 Romania 28 December 2018 153.0 3,461
 Russia 14 April 2015[64] 29 June 2015 28 December 2015 6,536.2 67,893
 Samoa[a] 6 March 2018 2.1 1,948
 Saudi Arabia 13 January 2015[65] 29 June 2015 19 February 2016 2,544.6 27,977
 Singapore[a] 24 October 2014[66] 29 June 2015 10 September 2015 250.0 5,031
 South Africa 15 April 2015[50] 3 December 2015 590.5
 Spain 11 April 2015[49] 29 June 2015 19 December 2017 1,761.5 20,146
 Sri Lanka[a] 24 October 2014 29 June 2015 22 June 2016 269.0 5,221
 Sudan 18 September 2018 59.0 2,521
 Sweden 15 April 2015[50] 29 June 2015 23 June 2016 630.0 8,831
  Switzerland 28 March 2015[67] 29 June 2015 25 April 2016 706.4 9,595
 Tajikistan 13 January 2015[65] 29 June 2015 16 January 2016 30.9 2,840
 Thailand 24 October 2014[66] 1 October 2015 20 June 2016 1,427.5 16,806
 Timor-Leste 22 November 2017 16.0 2,091
 Turkey 10 April 2015[68] 29 June 2015 15 January 2016 2,609.9 28,630
 United Arab Emirates 5 April 2015[69] 29 June 2015 15 January 2016 1,185.7 14,388
 United Kingdom 28 March 2015[67] 29 June 2015 3 December 2015 3,054.7 33,078
 Uzbekistan[a] 24 October 2014 29 June 2015 30 November 2016 219.8 4,729
 Vanuatu[a] 6 March 2018 0.5 1,936
 Vietnam[a] 24 October 2014 29 June 2015 11 April 2016 663.3 9,164
Unallocated Shares 1,844.7
Grand Total 97
44 Regional
25 non-Regional
28 prospective
100.00% of shares
100.00% of shares
100,000 1,148,383
  Regional members


The Czech Republic,[70] Nigeria, Iraq,[71] Colombia,[72] Ukraine are considering joining the AIIB as members. Mexico, Japan and the United States have no immediate intention to participate. Taiwan's request to become a Prospective Founding Member was rejected by China as it does not consider the former to be a sovereign state.[73]

Dependent territories

The Articles of Agreement provide for non-sovereign entities to become members of the bank. In addition to the requirements for sovereign states, the membership of dependent territories must be supported by the state responsible for its external relations.

  •  Chinese Taipei (Taiwan) – Taiwan applied for PFM to join the AIIB via Taiwan Affairs Office on 31 March, possibly under the name "Chinese Taipei",[74][75] but was rejected by the Multilateral Interim Secretariat of the AIIB on 13 April, without any reason stated. However, China claims that there is the possibility for Taiwan to obtain membership at a later date.[73] China's Foreign Ministry spokeswoman Hua Chunying said that Taiwan should avoid creating a "two Chinas" or "one China, one Taiwan" situation.[76] ROC Finance Minister Chang Sheng-ford announced in April 2016 that Taiwan was not being treated with "dignity" or "respect" during the registration process and Taiwan eventually chose to leave the decision to join to the new president.[77]

UN member states

United States United States – No commitment

  • The United States' officials have expressed concerns about whether the AIIB would have high standards of governance, and whether it would have environmental and social safeguards.[78] The United States is reported to have used diplomatic pressure to try and prevent key allies, such as Australia, from joining the bank,[79] and expressed disappointment when others, such as Britain, joined.[66][78] The US' opposition to the AIIB, as well as its attempt to dissuade allies from joining was seen as a manifestation of a multifaceted containment strategy. The failure of that approach in this case was widely acknowledged as a strategic blunder.[80]

Japan Japan – "Under Consideration" / No commitment

  • Masato Kitera, Tokyo's envoy in Beijing, stated previously that Japan might join the AIIB.[81] Japanese Finance Minister Tarō Asō previously indicated interest in joining the AIIB, but later switched his stance. Yoshihide Suga, Japan's Cabinet Secretary, told the public that Japan was still seeking China's full explanation of the AIIB as he stated, "As of today, Japan will not join AIIB and a clear explanation has not been received from China" and "Japan is dubious about whether (the AIIB) would be properly governed or whether it would damage other creditors". He also stated that Japan is no longer considering whether or not to join the bank. The Japanese Government Spokesman also announced that Japan would not join the AIIB. Japanese prime minister Shinzō Abe also added that Japan does not need to join the bank.[82] But two years later, in May 2017, Shinzō Abe said join the AIIB, created in part to fund the initiative, could be an option if governance questions were resolved.[83] Toshihiro Nikai, secretary-general of the ruling party Liberal Democratic Party, suggested join the AIIB.[84]

Shareholding structure

The Authorized Capital Stock of the bank is 100 billion US Dollars, divided into 1 million shares of 100 000 dollars each. Twenty percent are paid-in shares (and thus have to be transferred to the bank), and 80% are callable shares.[2] The allocated shares are based on the size of each member country's economy (calculated using GDP Nominal (60%) and GDP PPP (40%)), whether they are an Asian or Non-Asian Member, and the number of shares determines the fraction of authorized capital in the bank.[4][85][86][87] Of the prospective founding members, three states decided not to subscribe to all allocated shares: Malaysia, Portugal and Singapore,[88] resulting in 98% of available shares to be subscribed.[2]

Three categories of votes exist: basic votes, share votes and Founding Member votes. The basic votes are equal for all members and constitute 12% of the total votes, while the share votes are equal to the number of shares. Each Founding Member furthermore gets 600 votes. An overview of the shares, assuming when all 57 Prospective Founding Members have become Founding Members is shown below (values in bold do not depend on the number of members):[89]

Vote Type % of Total Votes Total Votes Vote per Member China
(Largest PFM)
(Smallest PFM)
Basic votes 12 138,510 2,430 2,430 2,430
Share votes 85 981,514 Varies 297,804 72
Founding Member votes 3 34,200 600 600 600
Total 100 1,154,224 varies 300,834 (26.1%) 3,102 (0.3%)


The bank's governance structure is composed of the Board of Governors[90] as the top-level and highest decision-making body.[91] It is composed of 1 governor for each member state of the bank and in principle meets once a year.[91] The board of directors, composed of 12 governors, each representing one or more member is responsible for daily operations and tasks delegated to it by the board of governors. Nine of those members are from within the Asia-Pacific region and three representing members outside the region.[91]

Of the non-regional directors, 1 constituency is made up of EU member states having the Euro as their currency, and 1 from other European countries.[92]

New members are considered for admission only once a year. An overview of the constituencies is shown below:[93]

Country of Director Countries of Alternates Other Constituencies
 Saudi Arabia  United Arab Emirates
 Turkey  Pakistan
 Philippines  Thailand
 Russia  Kazakhstan  Belarus
 China  Hong Kong
 Canada  Egypt  Madagascar
 Australia  Vietnam  New Zealand
 United Kingdom  Sweden
 France  Germany  Austria
 Indonesia  Cambodia
 Sri Lanka
 South Korea  Israel
Senior Management of AIIB
Country Name Position in AIIB
China China Jin Liqun President
United Kingdom United Kingdom Danny Alexander Vice President and Corporate Secretary
France France Thierry de Longuemar Vice President and Chief Financial Officer
India India D. J. Pandian Vice President and Chief Investment Officer
Germany Germany Joachim von Amsberg Vice President - Policy and Strategy
Indonesia Indonesia Luky Eko Wuryanto Vice President and Chief Administration Officer
New Zealand New Zealand Gerard Sanders General Counsel
Germany Germany Martin Kimmig Chief Risk Officer
Russia Russia Konstantin Limitovskiy Chief Programming Officer/Senior Advisor to the President


The former President of the World Bank, Jim Yong Kim, has said that the need for infrastructure in developing countries is great so that the activities of new organizations would be welcome.[94]

Geopolitical implication in Asia and beyond

There is no consensus in the United States about the role of the AIIB. G. John Ikenberry (Princeton University) sees the AIIB as part of "China's emerging institutional statecraft,"[95] but argues that it is not clear whether the institution will tie China more deeply into the existing order or become a vehicle to challenge the order. Phillip Lipscy (Stanford University) argues that the United States and Japan should support the AIIB to encourage China's peaceful global leadership and discourage China from pursuing coercive or military options.[96] On the other hand, Paola Subacchi (Chatham House) argues that the AIIB represents a threat to US-dominated global governance.[97]

Think-tanks such as Chatham House, the China Studies Centre at the University of Sydney and the World Pensions Council (WPC) have argued that the successful establishment of a new supranational financial powerhouse headquartered in PRC would be facilitated by the large number of participating developed economies.[98][99] These experts observe that the establishment of the Beijing-based AIIB does not necessitate rivalry, when economic cooperation is possible,[98] and that the decision by the UK to participate advances its own interests even if some of its allies are opposed.[99]

Environmental record

As the bank is still in its early years, it has no environmental record. Several organisations[which?] have however expressed their concerns over environmental policy of the proposed bank because of the high stake of China in the bank's business. Although the proposed bank declared "AIIB will learn from the best practice in the world and adopt international standards of environmental protection," Oxford scholar of economics and energy policy Yuge Ma has argued that this may be complicated in developing Asian countries.[100]

Comparison with ADB and IBRD

($ million)
AIIB ADB[101] IBRD[102]
Established 2016 1966 1944
Date as of 31 Dec 2016[103] 31 Dec 2017[104] 31 Dec 2017 30 Jun 2018
Member.[47] Total 57 84 67 189
(Regional, Non-regional, Prospective) 34, 16, 7 40, 20, 24 48, 19, 0 -
Credit rating Unrated AAA AAA AAA
Capital Subscribed 90,327 95,001 151,169 274,730
Paid-in 18,065 19,000 7,563 16,456
Total assets 17,795 18,973 182,381 403,056
Lending 1,730 4,220 101,126 183,588

Lending results


During 2016, AIIB committed a total of $1.73 billion to nine projects, among which six projects are joint initiatives with other international lenders such as the World Bank and the Asian Development Bank. It has achieved its loan target of $1.2 billion for the first year.[105][106]

2016 AIIB lending[105][106]
Approval date Country Purpose Amount M$ Co-lenders
24 Jun 2016 Tajikistan Road improvement 27.5 European Bank for Reconstruction and Development
24 Jun 2016 Bangladesh Power distribution lines 165.0 none
24 Jun 2016 Pakistan Motorway construction 100.0 Asian Development Bank and United Kingdom's Department for International Development
24 Jun 2016 Indonesia Redevelopment of poor districts 216.5 World Bank
27 Sep 2016 Pakistan Hydropower plant 300.0 World Bank
27 Sep 2016 Myanmar Combined Cycle Gas Turbine power plant 20.0 International Finance Corporation, the Asian Development Bank and certain commercial lenders
8 Dec 2016 Oman Railways 36.0 none
8 Dec 2016 Oman Port facilities 265.0 none
21 Dec 2016 Azerbaijan Gas pipeline 600.0 A number of other multilateral development banks including the World Bank and other commercial entities
Total 1,730.0


2017 AIIB lending[105][106]
Approval date Country Purpose Amount M$ Co-lenders
22 March 2017 Indonesia Regional Infrastructure Development Fund Project 100.0 World Bank
22 March 2017 Indonesia Dam Operational Improvement and Safety Project Phase II 125.0 World Bank
22 March 2017 Bangladesh Natural Gas Infrastructure and Efficiency Improvement Project 60.0 Asian Development Bank
2 May 2017 India Andhra Pradesh 24x7 – Power For All 160.0 World bank and Government of Andhra Pradesh
5 June 2017 Georgia Batumi Bypass Road Project 114.2 Asian Development Bank
15 June 2017 India India Infrastructure Fund 150.0 Other investors
15 June 2017 Tajikistan Nurek Hydropower Rehabilitation Project, Phase I 60.0 World Bank and Eurasian Development Bank
4 July 2017 India Gujarat Rural Roads Project 329.0 Government of Gujarat
4 September 2017 Egypt Egypt Round II Solar PV Feed-in Tariffs Program 17.5 International Finance Corporation and other lenders
27 September 2017 India Transmission System Strengthening Project 100.0 Asian Development Bank and Power Grid Corporation of India
27 September 2017 Philippines Metro Manila Flood Management Project 207.60 World Bank
8 December 2017 India Bangalore Metro Rail Project – Line R6 335.0 European Investment Bank and other lenders
8 December 2017 Oman Broadband Infrastructure Project 239.0 none
8 December 2017 China Beijing Air Quality Improvement and Coal Replacement Project 250.0 Beijing Municipality, China CDM Fund and Beijing Gas


2018 AIIB lending[105][106]
Approval date Country Purpose Amount M$ Co-lenders
9 February 2018 Bangladesh Bhola IPP 60.0 none
11 April 2018 India Madhya Pradesh Rural Connectivity Project 140.0 World Bank
24 June 2018 India National Investment and Infrastructure Fund 100.0 Government of India
24 June 2018 Turkey Tuz Golu Gas Storage Expansion Project 600.0 World Bank, Islamic Development Bank, BOTAS and commercial loans
24 June 2018 Indonesia Strategic Irrigation Modernization and Urgent Rehabilitation Project 250.0 World Bank
28 September 2018 India Andhra Pradesh Rural Roads Project 455.0 Government of Andra Pradesh
28 September 2018 Egypt Sustainable Rural Sanitation Services Program 300.0 World Bank
28 September 2018 Turkey TSKB Sustainable Energy and Infrastructure On-lending Facility 200.0 none
7 December 2018 Indonesia Mandalika Urban and Tourism Infrastructure Project 248.39 Government of Indonesia
7 December 2018 India Andhra Pradesh Urban Water Supply and Septage Management Improvement Project 400.0 Government of Andhra Pradesh


2019 AIIB lending[105][106]
Approval date Country Purpose Amount M$ Co-lenders
26 March 2019 Bangladesh Power System Upgrade and Expansion Project 120.0 Government of Bangladesh and Power Grid Corporation of Bangladesh
26 March 2019 Laos National Road 13 Improvement and Maintenance Project 40.0 Government of Laos, NDF and IDA
4 April 2019 Sri Lanka Reduction of Landslide Vulnerability by Mitigation Measures Project 80.0 Government of Sri Lanka
4 April 2019 Sri Lanka Colombo Urban Regeneration Project 200.0 Government of Sri Lanka and private partner
21 May 2019 Nepal Upper Trisuli I Hydropower Project 90.0 ADB, IFC, Korean Consortium

See also


  1. ^ a b c d e f g h i j k l m n o p q r s t Signatories of the Memorandum of Understanding


  1. ^ a b "Members and Prospective Members of the Bank". AIIB. Retrieved 6 August 2019.
  2. ^ a b c d e f g h "Articles of Agreement – AIIB" (PDF). Asian Infrastructure Investment Bank. Archived from the original (PDF) on 27 December 2015. Retrieved 21 July 2015.
  3. ^ "Jin Liqun Selected President-designate of the Asian Infrastructure Investment Bank". Multilateral Interim Secretariat of AIIB. 24 August 2015. Archived from the original on 3 August 2016. Retrieved 28 August 2015.
  4. ^ a b c "Asian Infrastructure Investment Bank – Articles of Agreement" (PDF). Asian Infrastructure Investment Bank. Retrieved 21 July 2015.
  5. ^ "World Economic Situation and Prospects 2015" (PDF). United Nations. Retrieved 21 July 2015.
  6. ^ United Nations Financing for Development Office. "Global Economic Governance". Retrieved 29 March 2015.
  7. ^ "The Economist explains". The Economist. 11 November 2014.
  8. ^ "China says new bank to complement existing institutions". The Washington Post. 21 March 2015.
  9. ^ "Three major nations absent as China launches World Bank rival in Asia". Reuters. 5 November 2014.
  10. ^ "AIIB looks to attract private financing for projects". GBTIMES.
  11. ^ Dahir, Abdi Latif. "The growing membership of a China-led development bank challenges the IMF-World Bank orthodoxy". Quartz.
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