Beijing formally established Asian Infrastructure Investment Bank

Almaty. December 28. Silkroadnews - In Beijing on Friday officially founded Asian Infrastructure Investment Bank (ABII), which is the world's first multilateral financial institution established on the initiative of China, reported the Xinhua news agency.
The agency reminds that the initiative to create ABII was announced by President Xi Jinping in October 2013. Chinese leader's proposal was supported by many countries. In October 2014 in Beijing, 22 countries signed a memorandum on the preparation of the formation of ABII, and by March 31, 2015 the number of founding members has increased to 57. These include developed countries such as Britain, Germany and France. In June this year in Beijing was reached an agreement on the formation of ABII.
ABII created to finance infrastructure projects in the framework of the concept of "economic belt of the Silk Road", involving large-scale investments in infrastructure and related projects in a number of countries through which are trade flows between Europe and Asia.
The company's headquarters will be located in Beijing. It is expected that ABII will be operational from the beginning of 2016.