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Updated: 2015-04-16 | By:

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.

Chinese Premier Li Keqiang affirms AIIB cooperative stance.[6] As of April 2, 2015, almost all Asian countries and most major countries outside Asia had joined the AIIB, except the US, Japan (which dominated the ADB) and Canada. North Korea's and Taiwan's applications were rejected.