China new world bank

You're referring to the Asian Infrastructure Investment Bank (AIIB), not a new World Bank. The AIIB is a multilateral development bank that was established in 2015 by China and 21 other countries to finance infrastructure development in Asia and beyond.

Here are some key facts about the AIIB:

  1. Purpose: The AIIB aims to promote economic growth and regional cooperation by investing in infrastructure projects that support sustainable development, improve connectivity, and enhance economic integration in Asia and beyond.
  2. Membership: The AIIB has 103 member countries, including many of the world's largest economies, such as the United States, Japan, South Korea, and the European Union.
  3. Headquarters: The AIIB is headquartered in Beijing, China.
  4. Capital: The AIIB has an initial capital base of $100 billion, which is expected to increase to $200 billion by 2025.
  5. Lending: The AIIB focuses on lending for infrastructure projects, such as transportation, energy, water, and telecommunications. It also provides financing for urban development, education, and healthcare projects.
  6. Governance: The AIIB is governed by a Board of Governors, which is composed of representatives from each member country. The bank is led by a President, who is currently Jin Liqun.
  7. Comparison to the World Bank: The AIIB is often compared to the World Bank, which is a similar multilateral development bank that was established in 1944. While both institutions share similar goals and objectives, the AIIB is focused specifically on infrastructure development in Asia and beyond, whereas the World Bank has a broader mandate to promote economic development and reduce poverty worldwide.

Some of the AIIB's notable projects include:

  1. China-Pakistan Economic Corridor: A $2.5 billion loan to support the development of a transportation corridor connecting China's Xinjiang region to Pakistan's Gwadar Port.
  2. India's National Highways Development Project: A $500 million loan to support the development of India's national highway network.
  3. Indonesia's Transportation Sector Development Program: A $500 million loan to support the development of Indonesia's transportation sector, including the construction of roads, bridges, and ports.

Overall, the AIIB is an important institution that aims to promote economic growth and regional cooperation in Asia and beyond, and its projects have the potential to have a significant impact on the region's development.