On Saturday, January 16, Asian Infrastructure Investment Bank was opened. Representatives of 57 countries-founders arrived for the Opening Ceremony.
According to Xi Jinping, the President of the People's Republic of China, the launch of AIIB is the first step to reformation of the world’s economic management system and quality improvement. The President of China considers AIIB’s work highly important. The bank’s president Jin Liqun agrees with Xi Jinping. He mentioned that this financial institution would boost Asian development.
Xi Jinping announced that China would support the bank in its development and functioning. The People's Republic of China put in $50m at the launch of the bank in order to create special fund which would help the troubled countries-participants to develop infrastructural projects.
The amount of capital stock is $100m with the major part deposited by China. Media already wrote that China’s AIIB is an alternative to the World Bank and Asian Development Bank.
