Asian Infrastructure Investment Bank (AIIB).
on January 16th, 222, the first multilateral financial institution initiated by China, the Asian Infrastructure Investment Bank (AIIB), celebrated its 5th anniversary. Over the past five years, the AIIB has operated in accordance with the model and principles of multilateral development banks, adhered to international, normative and high standards, achieved a good start, and played an important role in promoting infrastructure construction and interconnection in Asia and other regions. The multilateral institution founded by China is the AIIB.
the Asian infrastructure investment bank (AIIB) is an intergovernmental multilateral development institution in the Asian region. Focusing on supporting infrastructure construction, it was established to promote the process of interconnection and economic integration in the Asian region, and to strengthen cooperation between China and other Asian countries and regions. It is the first multilateral financial institution initiated by China. As the first multilateral financial institution initiated by China, the AIIB is a constructive measure for China to assume more international responsibilities, promote the improvement of its economic system and provide international products. Since its establishment more than four years ago, the circle of friends of the AIIB has been expanding, from the initial 57 founding members to 12 from six continents: Asia, Europe, Africa, North America, South America and Oceania. The AIIB has provided 87 infrastructure projects with a total investment of nearly US$ 2 billion to 24 members, covering energy, transportation, finance, water resources and urban development.
what is a multilateral financial institution?
a multilateral financial institution is a bank jointly funded by several countries, which provides financial support for projects to improve people's livelihood and increase employment in member countries of the institution. The main support projects are projects related to economy and people's livelihood. World Bank, African Development Bank, Asian Development Bank, Asian Infrastructure Investment Bank, BRICS New Development Bank, etc. They are all multilateral financial institutions. International multilateral financial institutions are a broad concept, including not only international and regional multilateral development banks, but also multi-level and various institutions and organizations such as the International Monetary Fund and the Multilateral Investment Guarantee Agency.
in the process of globalization, multilateral development banks are one of the main bodies of global financial governance, constantly improving and adding strength, showing a diversified trend. Multilateral development banks provide international products in financial instruments, financial governance concepts, international practices and mechanisms. They are special mechanisms to coordinate the development strategies and interests of different countries and regions and play an important role in promoting the balanced development of the global economy. The stability of international finance depends on the financial governance of multilateral development banks and cooperative governance.