Asian Infrastructure Investment Bank - Wikipedia Asian Infrastructure Investment Bank `` AIIB '' redirects here. For other uses, see AIIB ( disambiguation ). Asian Infrastructure Investment Bank ( AIIB ) Formation January 16, 2016 ( 2016 - 01 - 16 ) ( Open for business ) December 25, 2015 ( 2015 - 12 - 25 ) ( Entry into force Articles of Agreement ) Type Regional Investment Bank Legal status Treaty Purpose Crediting Headquarters Beijing, China Region served Asia and Oceania Membership 66 Members Official language English Key people Jin Liqun ( President ) D.J. Pandian, IAS ( Vice President and Chief Investment Officer ) Danny Alexander ( Vice President and Corporate Secretary ) Thierry de Longuemar ( Vice President and Chief Financial Officer ) Joachim von Amsberg ( Vice President - Policy and Strategy ) Luky Eko Wuryanto ( Vice President and Chief Administration Officer ) Main organ Board of Governors Board of Directors Website www.aiib.org Asian Infrastructure Investment Bank Simplified Chinese 亚洲 基础 设施 投资 银行 Traditional Chinese 亞洲 基礎 設施 投資 銀行 show Transcriptions Standard Mandarin Hanyu Pinyin Yàzhōu jīchǔ shèshī tóuzī yínháng Alternative Chinese name Simplified Chinese 亚 投行 Traditional Chinese 亞 投行 show Transcriptions Standard Mandarin Hanyu Pinyin Yàtóuháng 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 86 member states from around the world. 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. The United Nations has addressed the launch of AIIB as having potential for `` scaling up financing for sustainable development '' and to improve the global economic governance. The starting capital of the bank was $ 100 billion, equivalent to ​ ⁄ of the capital of the Asian Development Bank and about half that of the World Bank. The bank was proposed by China in 2013 and the initiative was launched at a ceremony in Beijing in October 2014. 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. Contents 1 History 1.1 AIIB within PRC policy thinking 1.1. 1 Fostering long - term economic development 1.1. 2 Infrastructure as regional integration and foreign policy tool 2 Legal basis and membership 2.1 Members 2.2 Non-members 2.2. 1 Dependent territories 2.2. 2 UN member states 3 Shareholding structure 4 Governance 5 Reception 5.1 Geopolitical implication in Asia and beyond 5.2 Environmental record 6 Comparison with ADB and IBRD 7 Lending results 7.1 2016 8 See also 9 Notes 10 References 11 External links History 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. The initiative was officially launched by Chinese President Xi Jinping on a state visit to Indonesia in October 2013. 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 dominated by American, European and Japanese interests. 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. 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. 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. 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. 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. 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. 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. The U.S. allegedly tried to keep Australia and South Korea from becoming prospective founding members, after they expressed an interest in it. However, both Australia and South Korea applied to join the bank in March 2015. Hong Kong 's Financial Secretary John Tsang announced in his budget speech in February 2015 that the territory would join the AIIB. 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. 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. '' 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. '' 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. Several other European states -- including Germany, France and Italy -- followed the UK 's decision to join the AIIB in March. 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. '' 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. 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 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 massive, 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 Neoclassical economists and pursued by many developing countries in the 1990s and the first decade of the 21st century with generally disappointing results. 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 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. '' Legal basis and membership Articles Articles of Agreement of the Asian Infrastructure Investment Bank Prospective members ( regional ) Members ( regional ) Prospective members ( non-regional ) Members ( non-regional ) Signed 29 June 2015 Location Beijing, China Effective 25 December 2015 Condition Ratification by 10 states, comprising 50 % of initial subscriptions of capital stock Signatories 57 Parties 52 ( 92 % of initial subscriptions of capital stock ) Depositary Government of the People 's Republic of China Languages Chinese, English ( used in disputes ) and French 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. The Articles were negotiated by the Prospective Founding Members, with Hong Kong joining the negotiations via China. Members 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 ). They become members after finishing their domestic procedures. As of 30 June 2018, total approved membership of AIIB is 87 ( Regional Members : 42, Non-Regional Members : 24, Prospective Members : 21 ). Country / Region Prospective Founding Member status Signature ( Articles ) Ratification or Acceptance ( Articles ) Total Subscriptions ( Amount of Shares in millions USD ) hide Voting Power ( Number of Votes ) Afghanistan 13 October 2017 86.6 2,992 Argentina 5.0 1,700 Australia 3 April 2015 29 June 2015 10 November 2015 3,691.2 39,563 Austria 11 April 2015 29 June 2015 3 December 2015 500.8 8,056 Azerbaijan 15 April 2015 29 June 2015 24 June 2016 254.1 5,589 Bangladesh 24 October 2014 29 June 2015 22 March 2016 660.5 9,547 Bolivia 26.1 1,911 Brazil 12 April 2015 29 June 2015 5.0 2,300 Brunei 24 October 2014 29 June 2015 12 October 2015 52.4 3,572 Cambodia 24 October 2014 29 June 2015 17 May 2016 62.3 3,671 Canada 19 March 2018 995.4 12,005 Chile 10.0 1,750 China 24 October 2014 29 June 2015 26 November 2015 29,780.4 300,455 Cyprus 27 June 2018 20.0 2,251 Denmark 12 April 2015 27 October 2015 14 January 2016 369.5 6,346 Ecuador 5.0 1,700 Egypt 14 April 2015 29 June 2015 12 August 2016 650.5 9,447 Ethiopia 13 May 2017 45.8 2,509 Fiji 11 December 2017 12.5 2,176 Finland 12 April 2015 29 June 2015 7 January 2016 310.3 6,151 France 2 April 2015 29 June 2015 16 June 2016 3,375.6 36,407 Georgia 12 April 2015 29 June 2015 14 December 2015 53.9 3,587 Germany 1 April 2015 29 June 2015 21 December 2015 4,484.2 47,493 Hong Kong 7 June 2017 765.1 9,702 Hungary 16 June 2017 100.0 3,342 Iceland 15 April 2015 29 June 2015 4 March 2016 17.6 3,224 India 24 October 2014 29 June 2015 11 January 2016 8,367.3 86,324 Indonesia 25 November 2014 29 June 2015 14 January 2016 3,360.7 36,258 Iran 7 April 2015 29 June 2015 6 January 2017 1,580.8 18,459 Ireland 23 October 2017 131.3 3,579 Israel 15 April 2015 29 June 2015 15 January 2016 749.9 10,150 Italy 2 April 2015 29 June 2015 13 July 2016 2,571.8 28,369 Jordan 7 February 2015 29 June 2015 25 December 2015 119.2 4,240 Kazakhstan 24 October 2014 29 June 2015 18 April 2016 729.3 9,944 South Korea 11 April 2015 29 June 2015 11 December 2015 3,738.7 40,038 Kuwait 24 October 2014 4 December 2015 536.0 Kyrgyzstan 9 April 2015 29 June 2015 11 April 2016 26.8 3,210 Laos 24 October 2014 29 June 2015 15 January 2016 43.0 3,478 Luxembourg 27 March 2015 29 June 2015 9 December 2015 69.7 3,745 Madagascar 27 June 2018 5.0 2,101 Malaysia 24 October 2014 21 August 2015 27 March 2017 109.5 4,102 Maldives 31 December 2014 29 June 2015 4 January 2016 7.2 3,120 Malta 9 April 2015 29 June 2015 7 January 2016 13.6 3,184 Mongolia 24 October 2014 29 June 2015 27 November 2015 41.1 3,353 Myanmar 24 October 2014 29 June 2015 1 July 2015 264.5 5,693 Nepal 24 October 2014 29 June 2015 13 January 2016 80.9 3,857 Netherlands 12 April 2015 29 June 2015 16 December 2015 1,031.3 12,964 New Zealand 5 January 2015 29 June 2015 9 December 2015 461.5 7,663 Norway 14 April 2015 29 June 2015 22 December 2015 550.6 8,554 Oman 24 October 2014 29 June 2015 21 June 2016 259.2 5,640 Pakistan 24 October 2014 29 June 2015 22 December 2015 1,034.1 12,992 Peru 154.6 3,196 Philippines 24 October 2014 31 December 2015 6 December 2016 979.1 12,442 Poland 15 April 2015 9 October 2015 20 April 2016 831.8 10,969 Portugal 15 April 2015 29 June 2015 8 February 2017 65.0 3,698 Qatar 24 October 2014 29 June 2015 24 June 2016 604.4 9,092 Russia 14 April 2015 29 June 2015 28 December 2015 6,536.2 68,013 Samoa 6 March 2018 2.1 2,072 Saudi Arabia 13 January 2015 29 June 2015 19 February 2016 2,544.6 28,097 Singapore 24 October 2014 29 June 2015 10 September 2015 250.0 5,548 South Africa 15 April 2015 3 December 2015 590.5 Spain 11 April 2015 29 June 2015 19 December 2017 1,761.5 20,266 Sri Lanka 24 October 2014 29 June 2015 22 June 2016 269.0 5,738 Sweden 15 April 2015 29 June 2015 23 June 2016 630.0 9,242 Switzerland 28 March 2015 29 June 2015 25 April 2016 706.4 9,715 Tajikistan 13 January 2015 29 June 2015 16 January 2016 30.9 3,251 Thailand 24 October 2014 1 October 2015 20 June 2016 1,427.5 16,926 Timor - Leste 22 November 2017 16.0 2,211 Turkey 10 April 2015 29 June 2015 15 January 2016 2,609.9 28,750 United Arab Emirates 5 April 2015 29 June 2015 15 January 2016 1,185.7 14,508 United Kingdom 28 March 2015 29 June 2015 3 December 2015 3,054.7 33,198 Uzbekistan 24 October 2014 29 June 2015 30 November 2016 219.8 5,246 Vanuatu 6 March 2018 0.5 2,056 Venezuela 209.0 3,740 Vietnam 24 October 2014 29 June 2015 11 April 2016 663.3 9,575 Unallocated Shares 2,434.7 Grand Total 75 43 Regional 32 non-Regional 75 100.00 % of shares 75 100.00 % of shares 100,000 1,144,304 Regional members Non-members The Czech Republic, Libya, Nigeria, Algeria, Iraq, Colombia, 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. 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 '', 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. China 's Foreign Ministry spokeswoman Hua Chunying said that Taiwan should avoid creating a `` two Chinas '' or `` one China, one Taiwan '' situation. 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. Un member 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. The United States is reported to have used diplomatic pressure to try and prevent key allies, such as Australia, from joining the bank, and expressed disappointment when others, such as Britain, joined. 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. Japan -- `` Under Consideration '' / No commitment Masato Kitera, Tokyo 's envoy in Beijing, stated previously that Japan might join the AIIB. 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. 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. Toshihiro Nikai, secretary - general of the ruling party Liberal Democratic Party, suggested join the AIIB. 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. 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. Of the prospective founding members, three states decided not to subscribe to all allocated shares : Malaysia, Portugal and Singapore, resulting in 98 % of available shares to be subscribed. 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 ) : Vote Type % of Total Votes Total Votes Vote per Member China ( Largest PFM ) Maldives ( 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 34,200 600 600 600 Total 100 1,154,224 varies 300,834 ( 26.1 % ) 3,102 ( 0.3 % ) Governance The bank 's governance structure is composed of the Board of Governors as the top - level and highest decision - making body. It is composed of 1 governor for each member state of the bank and in principle meets once a year. 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. 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. New members are considered for admission only once a year. An overview of the constituencies is shown below : Country of Director Countries of Alternates Other Constituencies Saudi Arabia United Arab Emirates Qatar Jordan Oman Turkey Pakistan Azerbaijan Brunei Georgia Kyrgyzstan Austria Germany France Cyprus Finland Ireland Italy Luxembourg Malta Netherlands Portugal Spain Russia Kazakhstan Iran Tajikistan China Hong Kong India Australia New Zealand Singapore Vietnam United Kingdom Norway Sweden Denmark Hungary Iceland Poland Switzerland Canada Egypt Ethiopia Indonesia Laos Sri Lanka Cambodia Myanmar Philippines Bangladesh Thailand Malaysia Maldives Nepal South Korea Israel Uzbekistan Fiji Mongolia Samoa Unallocated : Afghanistan Madagascar Timor - Leste Vanuatu Senior Management of AIIB Country Name Position in AIIB China Jin Liqun President United Kingdom Danny Alexander Vice President and Corporate Secretary France Thierry de Longuemar Vice President and Chief Financial Officer India D.J. Pandian Vice President and Chief Investment Officer Germany Joachim von Amsberg Vice President - Policy and Strategy Indonesia Luky Eko Wuryanto Vice President and Chief Administration Officer New Zealand Gerard Sanders General Counsel Germany Martin Kimmig Chief Risk Officer Reception The 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. 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, '' 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. On the other hand, Paola Subacchi ( Chatham House ) argues that the AIIB represents a threat to global governance. 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. These experts observe that the establishment of the Beijing - based AIIB does not necessitate rivalry, when economic cooperation is possible, and that the decision by the UK to participate advances its own interests even if some of its allies are opposed. Environmental record As the bank is still in its early years, it has no environmental record. Several organisations 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. Comparison with ADB and IBRD ( $ million ) AIIB ADB IBRD Date as of 31 Dec 2016 1 Jan 2017 30 Jun 2016 Established 2016 1966 1944 Member Total 50 ( 57 ) 67 189 ( Regional ) 34 ( 38 ) 48 - Credit rating Unrated ( AAA ) AAA AAA Capital Subscribed 90,327 142,699 263,329 Paid - in 6,775 7,154 15,805 Paid - in receivable 11,007 0 0 Total assets 17,795 153,666 376,194 Lending 1,730 94,624 172,577 Lending results 2016 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. 2016 AIIB lending 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 See also New Development Bank ( BRICS ) / NDB BRICS Asian Development Bank African Development Bank Caribbean Development Bank CAF - Development Bank of Latin America European Investment Bank Islamic Development Bank Notes ^ Jump up to : Signatories of the Memorandum of Understanding ^ Jump up to : As of 13 October 2017 Jump up ^ On 29 June 2017, Moody 's Investors Service assigned first - time AAA rating to AIIB, followed by Standard & Poor 's and Fitch Ratings. 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Jump up ^ `` AIIB Approves Membership of Argentina, Madagascar and Tonga / / The Bank 's approved membership rises to 80 ''. AIIB. Beijing, China : AIIB. 16 June 2017. Retrieved 30 June 2017. ^ Jump up to : `` Members and Prospective Members of the Bank ''. AIIB. Jump up ^ `` Australia approved as AIIB founder ''. Xinhua News Agency. 13 April 2015. Retrieved 25 April 2015. ^ Jump up to : `` Spain, ROK, Austria join AIIB as founding members ''. China Daily. 11 April 2015. Retrieved 25 April 2015. ^ Jump up to : `` AIIB membership means opportunity for Iceland : official ''. Xinhua News Agency. 18 April 2015. Retrieved 25 April 2015. ^ Jump up to : `` Georgia, Denmark, Brazil, Netherlands, Finland Join China 's AIIB Bank ''. Sputnik. 12 April 2015. Jump up ^ ( 1 ) Voting Power of Latin American members ^ Jump up to : `` Egypt, Norway, Russia approved as AIIB founders ''. China Daily. 15 April 2015. Retrieved 25 April 2015. ^ Jump up to : `` Italy, France approved as AIIB founding members ''. People 's Daily. 2 April 2015. Retrieved 25 April 2015. Jump up ^ `` Germany becomes AIIB prospective founding member ''. Xinhuanet. Retrieved 30 June 2015. Jump up ^ `` Iran Joins China - Led Asian Bank ''. Fars News Agency. 7 April 2015. Retrieved 25 April 2015. ^ Jump up to : `` Malta, Kyrgyzstan join AIIB as founding members ''. Retrieved 30 June 2015. Jump up ^ `` Luxembourg becomes AIIB 's prospective founding member ''. Xinhua News Agency. 27 March 2015. Retrieved 25 April 2015. Jump up ^ `` Malaysia 's Ambassador to China signed the Articles of Agreement of the Asian Infrastructure Investment Bank ''. Retrieved 27 August 2015. Jump up ^ `` Asian Infrastructure Development Bank to be operational by year - end ''. The Economic Times. 2 January 2015. Retrieved 22 January 2015. Jump up ^ `` New Zealand becomes 24th founding member of AIIB ''. China Daily. 5 January 2015. Retrieved 25 April 2015. Jump up ^ `` NZ formally joins Asian Infrastructure Investment Bank ''. Scoop.co.nz. Retrieved 10 December 2015. Jump up ^ `` President ( Andrzej Duda ) signs the act of ratification concerning joining AIIB ''. tvn24. Missing or empty url = ( help ) ; access - date = requires url = ( help ) Jump up ^ `` Russia officially joins $50 bn China - led infrastructure bank ''. RT. 14 April 2015. Retrieved 14 April 2015. ^ Jump up to : `` Saudi Arabia, Tajikistan to join Beijing - backed development bank ''. Reuters. 13 January 2015. Retrieved 25 April 2015. ^ Jump up to : `` The infrastructure gap ''. The Economist. Retrieved 21 March 2015. ^ Jump up to : `` U.K. and Switzerland follow Brazil to China - backed Asia investment bank ''. Reuters. 28 March 2015. Retrieved 25 April 2015. Jump up ^ `` Turkey joins AIIB as founding member ''. Xinhua News Agency. 11 April 2015. Retrieved 25 April 2015. Jump up ^ `` UAE joins AIIB as prospective founding member ''. Gulf News. 5 April 2015. Retrieved 25 April 2015. Jump up ^ `` Číňané do Asijské rozvojové banky přibrali 57 zemí. Česko se vstupem váhá ''. Hospodářské noviny ( in Czech ). 15 April 2015. Jump up ^ `` InfraAsia - AIIB approves 13 new members ''. LinkedIn. 2017 - 03 - 29. Retrieved 2017 - 07 - 10. Jump up ^ `` AIIB approves 13 new members ''. ChinaGoAbroad. Retrieved 2017 - 07 - 10. ^ Jump up to : Taiwan unable to become AIIB prospective founding member : China. Retrieved 13 April 2014. Jump up ^ `` Taiwan to apply to join China - backed AIIB investment bank ''. Reuters. 31 March 2015. Retrieved 31 March 2015. Jump up ^ `` Legislature not against AIIB bid ''. Taipei Times. 2 April 2015. Retrieved 2 April 2015. Jump up ^ `` Foreign Ministry Spokesperson Hua Chunying 's Regular Press Conference on March 31, 2015 ''... FMPRC. 31 March 2015. Retrieved 1 April 2015. Jump up ^ Chiu, Bernie ; Wu, Lilian ( 12 April 2016 ). `` Taiwan 's bid to join AIIB a non-starter : finance minister ''. Central News Agency. Archived from the original on 13 April 2016. Retrieved 12 April 2016 -- via Taipei Times. ^ Jump up to : Watt, Nicholas ; Lewis, Paul ; Branigan, Tania ( 15 March 2015 ). `` US anger at Britain joining Chinese - led investment bank AIIB ''. The Guardian. Retrieved 2 April 2015. Jump up ^ `` Europeans defy US to join China - led development bank ''. Financial Times. 16 March 2015. Australia, a key US ally in the Asia - Pacific region which had come under pressure from Washington to stay out of the new bank, has also said that it will now rethink that position. Jump up ^ Etzioni, Amitai ( 2016 ). `` The Asian Infrastructure Investment Bank : A Case Study of Multifaceted Containment ''. Asian Perspective. 40 : 173 -- 196. SSRN 2788704. Jump up ^ `` Japan denies plan to join China - led development bank ''. Yahoo !. Agence France - Presse. Retrieved 31 March 2015. Jump up ^ `` Taiwan to join China - led regional bank, Japan says not now ''. Yahoo !. Elaine Kurtenbach. Retrieved 31 March 2015. Jump up ^ `` Abe, Nikai say Japan could consider joining AIIB ''. Japan Today. Retrieved 18 May 2017. Jump up ^ `` Japan 's ruling party heavyweight signals readiness to join AIIB - Nikkei ''. Reuter. Retrieved 18 May 2017. Jump up ^ `` China to have 30 per cent stake, veto power under AIIB deal ''. South China Morning Post. 29 June 2015. Jump up ^ China to have 30 per cent stake, veto power under AIIB deal Jump up ^ `` China to have 30 per cent stake, veto power under AIIB deal ''. Jump up ^ `` 33625 Nr. 179, verslag van een schriftelijk overleg ''. OfficieleBekendmakingen.nl ( in Dutch ). 14 September 2015. Jump up ^ `` Botschaft über den Beitritt der Schweiz zur Asiatischen Infrastruktur - Investitionsbank '' ( PDF ). The Federal Council of Switzerland ( in German ). 11 September 2015. Retrieved 26 December 2015. Jump up ^ `` China 's legislature ratifies AIIB agreement ''. Xinhuanet. 4 November 2015. Retrieved 26 December 2015. ^ Jump up to : `` purpose, functions and membership ''. AIIB. Retrieved 26 December 2015. Jump up ^ `` Verdrag betreffende de Aziatische Infrastructuurinvesteringsbank ; Beijing, 29 juni 2015 ; Nr. 8 ; BRIEF VAN DE MINISTER VAN FINANCIËN ''. Officiele Bekenmakingen.nl ( in Dutch ). Jump up ^ `` AIIB Governance Board of Directors ''. AIIB. Retrieved 15 July 2018. Jump up ^ `` World Bank welcomes China - led infrastructure bank ''. Reuters. 8 July 2014. Jump up ^ Ikenberry, G. John ( April 2017 ). `` China 's emerging institutional statecraft : The Asian Infrastructure Investment Bank and the prospects for counter-hegemony ''. Brookings. Retrieved 10 November 2017. Jump up ^ Phillip Lipscy ( 7 May 2015 ). `` Who 's Afraid of the AIIB : Why the United States Should Support China 's Asian Infrastructure Investment Bank ''. Foreign Affairs. Jump up ^ Paola Subacchi ( 31 March 2015 ). `` The AIIB Is a Threat to Global Economic Governance ''. Foreign Policy. ^ Jump up to : Firzli, M. Nicolas J. ( October 2015 ). `` China 's Asian Infrastructure Bank and the ' New Great Game ' ''. Analyse Financière. Retrieved 20 January 2016. ^ Jump up to : Kerry Brown ( 20 March 2015 ). `` The UK Shows Leadership, and Strategic Clarity, in Joining AIIB ''. Chatham House Asia Programme. Jump up ^ Yuge Ma ( 5 December 2014 ). `` The Environmental Implications of China 's New Bank ''. The Diplomat. Retrieved 27 July 2015. Jump up ^ `` Annual Report and Accounts 2016 '' ( PDF ). Asian Infrastructure Investment Bank. 2017. Jump up ^ `` 2016 Financial Report '' ( PDF ). Asian Development Bank. 2017. Jump up ^ `` Management 's Discussion & Analysis and Financial Statements '' ( PDF ). International Bank for Reconstruction and Development. 30 June 2016. Jump up ^ `` Economic Watch : AIIB completes hat trick of global AAA ratings ''. Xinhua. 2017 - 07 - 19. Jump up ^ `` Moody 's assigns first - time Aaa issuer rating to Asian Infrastructure Investment Bank ; outlook stable ''. Moody 's Investors Service. 29 Jun 2017. ^ Jump up to : `` Approved Projects ''. AIIB. ^ Jump up to : `` AIIB hits its first - year lending target ''. Nikkei Asian Review. 26 January 2017. External links Wikimedia Commons has media related to Asian Infrastructure Investment Bank. 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Question: where is the headquarters of the newly formed asian infrastructure investment bank (aiib) located
Answer: Beijing, China