China builds global role, one infrastructure loan at a time

Regional initiative: An attendee walks past the entrance to the venue of the AIIB annual meeting in Jeju, South Korea in June. The China-led AIIB can now boast a loan book of US2.5bil, capped by new projects in India, Georgia and Tajikistan. — Bloomberg

THE China-led Asian Infrastructure Investment Bank (AIIB) is a mere start-up among development lenders – but already has a global footprint.

Kicking off its second annual conference in the South Korean resort island of Jeju yesterday, the bank can now boast a loan book of US$2.5bil, capped by new projects in India, Georgia and Tajikistan announced on Thursday. It also approved Argentina, Madagascar and Tonga as members yesterday.