About AIIB

AIIB Full Form – AIIB or the Asian Infrastructure Investment Bank is a multilateral development bank in Asia. It aims to improve economic and social outcomes in the continent. It is headquartered in Beijing. The Asian Infrastructure Investment Bank’s main purpose (idea behind its creation) was to serve as a regional financing tool for Chinese President Xi Jinping’s “One Belt, One Road (OBOR)” initiative. 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.It was hence founded on 16th January, 2016. The first meeting of the Board of Governors was held in Beijing, China in 2016, the second one in Jeju, Korea in 2017 and the third one in Mumbai, India in 2018. Luxembourg, a country situated in Europe, happens to be the first country outside Asia where the AIIB’s annual Board of Governors meeting was held, in 2019. The theme of the 2019 Annual Meeting was “Cooperation and Connectivity” due to its aim to realize the economic and social benefits through better connectivity within and between countries and regions of Europe and Asia.


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