【CCTV】China welcomes all to apply

Publisher:Tao ChenDelivery time:2015-04-01viewed:318

The AIIB will include founding members from Northern Europe, to the middle-east and all the way Down-Under to Australia.When the bank was first proposed back in October of 2013 it flew under the radar, but now, that's all changing, as the AIIB is garnering global attention.

Chinese President Xi Jinping calls the A-I-I-B an open initiative, and that all countries are welcome to join. China led the way as 21 original founders signed a memorandum of understanding on the establishment of the bank in Beijing. The A-I-I-B has a registered capital of 100 billion US dollars. China has pledged half of that amount. Other Asian members will contribute 25 percent, while non-Asian members will also hold 25 percent. According to the Asian Development Bank, Asia needs 8 trillion dollars in infrastructure investment between 2010 and 2020. The A-I-I-B will help in that endeavor by catering to projects involving roads, railways, ports, power plants, telecoms and oil and gas facilities in Asia.



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