The initiative to set up the AIIB was announced in 2013 by Chinese President Xi Jinping and Premier Li Keqiang. In October 2014, 22 Asian states signed a Memorandum of Understanding to establish the AIIB with the headquarters in the Chinese capital of Beijing. According to the AIIB website, the bank is expected to be fully established by the end of 2015.
The lower house of Russian Parliament ratified a treaty to found the AIIB.
The Asian Infrastructure Investment Bank (AIIB) will bring additional resources to the common goal of all major international development banks - eradicating poverty in the world, the executive director at the International Trade Centre (ITC) told Sputnik on Friday.
Jin Liqun said that the bank must comply with the highest international standards.
China has officially nominated a former deputy finance minister of the country to the post of president of the Asian Infrastructure Investments Bank (AIIB), a Chinese Foreign Ministry spokeswoman said Monday.
Former governor of the Reserve Bank of India Bimal Jalan said that AIIB was a good opportunity for its members to exchange best practices in infrastructure development. He also thinks that AIIB and NDB are not rivals and should form a collective group instead.
The transparency of management is important for the China-led Asian Infrastructure Investment Bank (AIIB), Russian President Vladimir Putin said Saturday.
Global bourses retreated on Friday, with a major exception of mainland China, amidst the downward pressure of Greece nearing a sovereign default.
Former US Treasury Secretary Hank Paulson stated that China should be more concerned about the size of the US debt as the country's second largest creditor behind Japan.
Many global financial institutions, in particular the International Monetary Fund (IMF), are paralyzed due to inadequate regulation and an excessive number of members, former French Prime Minister Dominique de Villepin said Friday.
The International Monetary Fund (IMF) welcomes the establishment of the Asian Infrastructure Investment Bank (AIIB) and is ready to work with it, IMF Managing Director Christine Lagarde said on Thursday.
AIIB is an international financial institution proposed by China to stimulate growth in the Asia-Pacific region. It is largely viewed as a potential rival for the US and European-dominated World Bank and the International Monetary Fund (IMF).
White House Principal Deputy Press Secretary Eric Schultz said that the United States is not considering participation in the China-led Asian Infrastructure Investment Bank.
China's Ministry of Finance has announced seven new founding-member nations to its Asian Infrastructure Investment Bank (AIIB), bringing the total to 57; Norway is also on the list, despite the deep freeze in relations over the Nobel peace prize row
Chinese finance ministry said that Russia’s bid to become a founding member of the China-led Asian Infrastructure Investment Bank (AIIB) has been approved.
China has said "no" to Taiwan’s bid to become a founding member of the Beijing-led Asia Infrastructure Investment Bank (AIIB).
According to Chinese Finance Ministry, existing founding members of the China-led Asian Infrastructure Investment Bank have accepted applications of Georgia, Denmark, Brazil, the Netherlands and Finland to join the bank as founding states.
The US is losing its status of world power, as the country has lately not been able to enforce its geopolitical interests in several regions and has had to retreat, according to German Media.
At the moment the number of founding members of the Beijing-led Asian Infrastructure Investment Bank has reached 41 countries, according to the Chinese Finance Ministry. The United States and Japan have refrained from joining the bank.
Iran’s joining the China-led Asian Infrastructure Investment Bank (AIIB) will not affect the outcome of the ongoing nuclear negotiations between Tehran and the P5+1 group of countries, US Department of State spokesperson Jeff Rathke said during a press briefing on Friday.
The rapid rise of the AIIB was foreseeable: the world's emerging economies got really frustrated when the US-dominated Bretton Woods institutions disregarded them as a "group of banana republics," F. William Engdahl noted.
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