Information shared exclusively with Devex reveal new details about China’s ambitious plan to set up an infrastructure investment bank for the Asia-Pacific region by next year, including its structure and upcoming milestones in its creation.
The institution, tentatively called the Asian Infrastructure Investment Bank, was first proposed by Chinese President Xi Jinping in October during the Asia-Pacific Economic Cooperation in Bali to help finance infrastructure and other development projects in the region.
Because details have been lacking until now, speculation has been rampant about its exact scope and composition as well as how it may align and engage with existing development institutions and investors in the region.
Documents seen exclusively by Devex now suggest a starting capital of $50 billion for AIIB — with another option of $100 billion. In both cases, paid-in capital would be roughly $10 billion, with capital increasing by necessity “in due course.” Specific startup contributions were not laid out in the document, which was created by China’s Ministry of Finance.