Asian Infrastructure Investment Bank (AIIB)

​PNG invited to join Asian investment bank

AIIB is based in Beijing, China, and is a multilateral development bank that aims to support the building of infrastructure in the Asia Pacific region.

The bank has 52 member states while another 18 are prospective members as of March 2017 and was proposed as an initiative by the government of China.

Head of communication and development at AIIB, Laurel Ostfield, said AIIB is yet to fund infrastructure projects in the Pacific region.

Fiji and Samoa are the only members from the Pacific region, Samoa recently joined this month.