Aims and Prospects of the Asian Infrastructure Investment Bank Proposed by China

In October 2014, a Memorandum of Understanding regarding the founding of the Asian Infrastructure Investment Bank (AIIB) proposed by the Chinese government was signed in Beijing. By the end of March 2015, the deadline for submitting an application to be a founding member, a total of 57 nations had announced their intention to participate in the new multinational development bank (MDB). The AIIB's establishment has been accompanied by concerns about its governance, role-sharing with existing MDBs, and China's equity ratio. Going forward, as the AIIB prepares for the launch of operations within 2015, AIIB, existing MDBs, and related countries are expected to engage in extensive discussions about the ideal means for securing funding for infrastructure development, including the promotion of public-private partnerships (PPPs)