Once operational, the AIIB
will support financing for infrastructure projects across Asia, using a variety of support measures including loans, equity investments, and guarantees to boost investment across a range of sectors including transportation, energy, and telecommunications.
With the establishment of the AIIB
, the New Development Bank of BRICS, and the new Silk Road Fund, China is diverging its investment into emerging economies instead of just developed countries.
Chen Huan said AIIB
is willing to develop close cooperation with countries including Pakistan along the route; in particular the infrastructure investment will pave the way for the sustainable development for decades to come.
Jin Liqun thanked the Finance Minister on Pakistan's support for establishing AIIB
and hoped that the new Bank would build strong relationship with Pakistan in the days to come,according to press release issued here.
Since development of the economic infrastructures is requisite for further cooperation among AIIB
member-states, the AIIB
will concentrate mainly on financing the infrastructural and structural projects in the Asian countries," Tayyebnia added.
The long list of countries that joined the AIIB
against the U.
will be an important platform to channelize abundant savings available in the region into investment to help regional economies achieve sustainable and rapid development.
, which is currently led by Jin Liqun, a former deputy finance minister and a former vice-president of the Asian Development Bank, will have a capital of USD50bn, which is expected to rise to USD100bn.
He also valued Jordan's membership of the AIIB
, pledging China's continued support of the Kingdom, given the economic challenges it is facing, and also to promote economic cooperation and work in the coming period to finalize development projects under discussion in order to sign them in the next few months.
The Beijing-based AIIB
, which is expected to become operational by the end of this year, will follow the best practices by the multilateral banks and will implement an international governance system.
When the Chinese recently announced the new Asian Infrastructure Investment Bank, or AIIB
, the immediate international response was to blame this new development on Washington's failure to grant China greater presence at the International Monetary Fund.
I think America should take the leadership and courage to partner with AIIB
because all stakeholders would benefit from this initiative.