The Asian Infrastructure¹ Investment Bank (AIIB) will review more than 30 new membership applications beginning in September.

 

亚洲基础设施投资银行将于9月开始审查30多个国家的入会申请。

 

And the bank may have as many as 90 members by early 2017, outstripping² the membership numbers of U.S. and Japan-led Asian Development Bank (ADB), said Jin Liqun, the bank's president, at the China Entrepreneurs Forum³ on Aug, 25.

 

"As the first multilateral financial institution initiated⁴ by a developing Asian country, the China-initiated AIIB is going to absorb the experience of current multilateral banks. However, we don't want to clone them, but rather innovate⁵ and expand on them," Jin said.

 

According to Jin, AIIB is initiating⁶ cooperation with private capital on pension and commercial insurance projects, aiming to foster the role of private capital in public affairs. The bank is also working on developing new financial instruments to build a more flexible and efficient investment system.

 

"AIIB upholds its universal procurement⁷ procedures and gives players from all countries a fair appraisal⁸ when bidding for contracts," Jin said.

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