The president of the Asian Infrastructure Investment Bank has pushed back at the idea that Western powers were excluded from the founding of the multilateral lender last decade.
Based in Beijing, AIIB launched in 2016 and now has 110 members and a capitalization of $100 billion. Its founding president, Jin Liqun, a former vice minister at the Chinese Ministry of Finance, ranking vice president at the Asian Development Bank, and alternate executive director for China at the World Bank, is now nearing the end of his second five-year term, which began in January 2021.
Japan and the United States decided not to join AIIB, which was first proposed by Chinese President Xi Jinping in 2013. China has by far the largest voting share at 26.6%.