The Asian Infrastructure Investment Bank is an intergovernmental multilateral development institution in Asia, focusing on supporting infrastructure construction. Its purpose is to promote the process of interconnection and economic integration in Asia and strengthen the cooperation between China and other Asian countries and regions.
In July 2020, Li's application for membership was approved, becoming the 103 member of AIIB.
Founding significance:
China advocates the establishment of an Asian infrastructure investment bank, which will not only continue to promote the further reform of the International Monetary Fund (IMF) and the World Bank (WB), but also supplement the current investment, financing and international assistance functions of the Asian Development Bank (ADB) in the Asia-Pacific region.
Asian Infrastructure Investment Bank (AIIB) is an intergovernmental multilateral development institution in Asia and the first multilateral financial institution in propose to create, China, with its headquarters in Beijing.
The Asian Infrastructure Investment Bank will promote the process of interconnection and economic integration in Asia and strengthen the strength of China and other Asian countries.
The main functions of the Asian Infrastructure Investment Bank include promoting public and private capital investment in the development field of the region, providing financing support for the development of the region with its disposable funds, encouraging private capital to participate in investment, and strengthening other activities and services of these functions.