China launches Asian Infrastructure Investment Bank AIIB. Chinas - TopicsExpress



          

China launches Asian Infrastructure Investment Bank AIIB. Chinas $ 50 billion Asian Infrastructure Investment Bank (AIIB) is seen as a challenge to the World Bank and Asian Development Bank, both multilateral lenders that count Washington and its allies as their biggest financial backers.China, which is keen to extend its influence in the region, has limited voting power over these existing banks despite being the worlds second-largest economy. The AIIB, launched in Beijing at a ceremony attended by Chinese finance minister Lou Jiwei and delegates from 21 countries including India, Thailand and Malaysia, aims to give project loans to developing nations. China is set to be its largest shareholder with a stake of up to 50 percent.
Posted on: Fri, 24 Oct 2014 08:46:20 +0000

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