What is AIIB

AIIB stands for Asian Infrastructure Investment Bank. It is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. The bank was established in 2016 and is headquartered in Beijing, China. AIIB provides financing and technical assistance for infrastructure projects such as transportation, energy, telecommunications, and urban development. It is governed by its member countries, which include both Asian and non-Asian countries. The bank aims to promote sustainable economic development and improve the quality of life for people in the region by investing in infrastructure projects that are environmentally friendly and socially responsible. AIIB is seen as a key player in financing the infrastructure needs of the Asia-Pacific region and is expected to play a significant role in shaping the future of infrastructure development in the region.