Photo taken on Dec. 21, 2015 shows the sign of the Asian Infrastructure Investment Bank (AIIB) in Beijing, capital of China. The China-initiated Asian Infrastructure Investment Bank (AIIB), a complement to existing international financial system, was formally established Friday in Beijing and expected to start operation early next year.

December 25, 2015

"The China-proposed Asian Infrastructure Investment Bank (AIIB) was formally established Friday. Expectations are high for the new global multilateral financial institution, which will operate in an open, fair and efficient manner, AIIB's president-designate Jin Liqun told Xinhua.

GROWING RECOGNITION

Tasked with financing infrastructure construction across Asia, it took just two years for the bank to develop from an idea on paper to a fully-fledged body with 57 developed and developing nations as prospective founding members."

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