What is aiib?

It's the Asian Infrastructure Investment Bank. Think of it as a newer World Bank, but focused on Asia. Its main goal is to finance major infrastructure projects.

The AIIB is the Asian Infrastructure Investment Bank. It's a multilateral development bank that started operations back in 2016. Its primary goal is to finance infrastructure projects across Asia, like building new roads, railways, ports, and energy systems.

Think of it as being similar to the World Bank or the Asian Development Bank, but this one was actually initiated by China. A lot of countries, including many U.S. allies like the UK, Germany, and Australia, are founding members. The U.S. and Japan, however, are notably not part of it.

The general idea behind the AIIB is to address the massive need for infrastructure funding in developing parts of Asia. Proponents argue it helps fill a critical financing gap and promotes economic development. Some critics, particularly in the West, initially viewed it with skepticism. They saw it as a way for China to increase its geopolitical influence and challenge the existing global financial order led by Western institutions. Regardless of the perspective, it's become a significant player in international development finance.

AIIB is the Asian Infrastructure Investment Bank.

Basically, it is a big international bank. You can think of it like the World Bank. But its main focus is on Asia. The bank was started by China. Its headquarters, the main office, is in Beijing.

So what is its work? It gives money for big projects in Asian countries. These are mainly infrastructure projects. For example, building new roads, bridges, and railway lines. Also for power plants, internet cables, and ports. The main idea is to help countries in Asia grow. And to connect them with each other for better trade and development.

Many countries are members of this bank. I think more than 100 countries now. India is a very important member. Actually, India was one of the first countries to join it. We are a founding member. India is also one of the biggest borrowers. Our government is taking loans from AIIB for many big projects in our country.

At first, some people thought it was a competitor to the World Bank or Asian Development Bank (ADB). But now it is working with them also. It has become a very major bank for development in Asia.