Skip to content
Subscriber Only
Business
Economics

Xi Jinping Says AIIB to Boost Asia Infrastructure Investment

  • The $100 billion bank to provide impetus for growth in region
  • Xi delivers speech at opening ceremony for China-backed lender
Chinese President Xi Jinping leaves the podium after speaking during the opening ceremony of the Asian Infrastructure Investment Bank (AIIB) in Beijing on Saturday.

Chinese President Xi Jinping leaves the podium after speaking during the opening ceremony of the Asian Infrastructure Investment Bank (AIIB) in Beijing on Saturday.

Photographer: Mark Schiefelbein/AFP via Getty Images
Updated on

The $100-billion Asian Infrastructure Investment Bank will boost infrastructure investment in Asia and improve integration, China’s President Xi Jinping said Saturday at the opening ceremony for the China-backed lender.

The AIIB will provide impetus for economic growth in Asia and the rest of world, Xi said Saturday at the event in Beijing to mark the emergence of the world’s first major multilateral development bank in a generation.