AIIB expands global presence
The Asian Infrastructure Investment Bank (AIIB) Board of Directors has approved the establishment of an Interim Operational Hub* (the Hub), the Bank’s first overseas office. Starting with 57 founding members in 2016, AIIB now has a total of 105 members. It has developed a portfolio of 181 projects in 33 member countries with a total amount of USD35.7 billion to date.
This rapid growth is the catalyst for opening an office that helps bring the Bank both closer to its clients and to the front lines of its business. The Hub also provides proximity to global financial centers and connectivity with the international infrastructure ecosystem which is important to maintaining AIIB’s commercial momentum.
The preferred location for the Hub will be Abu Dhabi in the United Arab Emirates (UAE), pending formal agreement to be finalized during the coming weeks. The UAE has been designated as the preferred location for the Hub because it best fits the Bank’s selection criteria, in particular superb connectivity to the Bank’s global membership.
The Hub will provide AIIB with a robust platform to enable effective supervision of its growing investment portfolio, strengthen its project monitoring and implementation services across the globe.
As one of AIIB’s founding members, the UAE is one of the region’s fastest-growing economies and has been actively promoting green transition.
- The Hub is designated as an ‘interim’ operation for the purposes of gaining experience prior to establishing AIIB’s long-term global presence. Informed by this experience, the Bank will seek Board authorization for opening additional offices to better serve its growing roster of clients and expanding stakeholder communities.