{"id":7952,"date":"2017-09-21T13:05:06","date_gmt":"2017-09-21T16:05:06","guid":{"rendered":"http:\/\/devbrq.fazti.com.br\/?page_id=7952"},"modified":"2018-10-26T13:15:34","modified_gmt":"2018-10-26T16:15:34","slug":"asian-infrastructure-investment-bank-aiib","status":"publish","type":"page","link":"https:\/\/bricspolicycenter.org\/en\/asian-infrastructure-investment-bank-aiib\/","title":{"rendered":"Asian Infrastructure Investment Bank &#8211; AIIB"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2 style=\"text-align: center;\">Asian Infrastructure Investment Bank &#8211; AIIB<\/h2>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #333399;\"><strong>Updated on October 2017<\/strong><\/span><\/p>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2>Nature and Purpose<\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]Creation: The Chinese President Xi Jinping and the prime-minister Li Keqiang announced the \u201cAIIB initiative\u201d during a visit to Southeast Asian countries, in October 2013. The AIIB was planned by China to \u201cpromote the interconnection and economic integration in the region\u201d and \u201ccooperate with multilateral development banks\u201d (AIIB, 2016b). In January 2016, the Asian Infrastructure Investment Bank has officially started its operations, with 57 signatory countries to its Articles of Agreement at that time.[\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2>Objectives<\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]<\/p>\n<ul>\n<li>Development of the sectors of infrastructure and production in the Asian continent, where the investment of traditional institutions has not been sufficient.<\/li>\n<li>According to its Articles of Agreement, the AIIB seeks to (i) foster sustainable development and (ii) promote regional cooperation and partnerships by dealing with development challenges common to Asian countries.<\/li>\n<li>With the purpose of differentiating from traditional sources of finance, the bank seeks a faster and less bureaucratic system, centered on a simpler structure and more open to conceding loans\u00a0(<a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">AIIB, 2015<\/a>).<\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2>Capital Structure<\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]<\/p>\n<ul>\n<li>The AIIB has an authorized capital reserve of US$100 billion, divided into a hundred million shares with the value of US$100 each.<\/li>\n<li>Within the US$ 100 billion of authorized capital, US$ 20 billion correspond to paid-in capital (a portion of subscribed capital already paid) and US$80 billion to callable capital (not yet paid).<\/li>\n<li>The members of the bank contribute with capital subscriptions of different values, but regional members control 75% of the bank\u2019s reserve capital. Among the largest shareholders of the bank are China, India, Russia, Germany and South Korea (<a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">AIIB, 2015<\/a>).<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2>Rating<\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]The presence of many industrialized countries among AIIB investors gives the bank wide access to the stock market. With a good reputation in the capital market, AIIB\u2019s shares hit the AAA rating, according to an assessment made in June 2017 by Moody&#8217;s Investors Service (<a href=\"https:\/\/www.moodys.com\/research\/Moodys-assigns-first-time-Aaa-issuer-rating-to-Asian-Infrastructure--PR_368348\">Mood\u2019s Investors Service, 2017<\/a>). This scenario is based on AIIB\u2019s governmental framework, its risk policies, negotiation process and liquidity policies, which are stable in the long term. Fitch Ratings also evaluated AIIB\u2019s shares as AAA, based on the bank&#8217;s high government quality, excellent liquidity and easy access to the capital market (<a href=\"https:\/\/www.moodys.com\/research\/Moodys-assigns-first-time-Aaa-issuer-rating-to-Asian-Infrastructure--PR_368348\">Mood\u2019s Investors Service, 2017<\/a>).[\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2>Bond Issuing<\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]The AIIB expects to move closer to being able to issue bonds, especially after the release of the international credit rating. The initial bond should be at least of US$1 billion. However, the AIIB has no rush to issue bonds to finance the loans, because the bank had received around US$9 billion in paid-in capital, which means it has enough capital to invest in its projects during the next four or five years (<a href=\"https:\/\/asia.nikkei.com\/Politics-Economy\/Economy\/AIIB-hopes-to-win-international-credit-rating-by-end-of-third-quarter\">Nikkei Asian Review, 2017<\/a>).[\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<h2><strong>Governance structure<\/strong><\/h2>\n<p>[\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]The AIIB\u2019s <a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">Articles<\/a> <a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">of<\/a> <a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">Agreement<\/a> establishes the financial and governance procedures of the bank, based on a four level structure (<a href=\"https:\/\/www.aiib.org\/en\/about-aiib\/basic-documents\/_download\/articles-of-agreement\/basic_document_english-bank_articles_of_agreement.pdf\">AIIB, 2015<\/a>):<\/p>\n<p>(i) Board of Governors, with annual meetings (all member countries are entitled to the post of Governor);<\/p>\n<p>(ii) Board of Directors (twelve members: nine representatives from regional countries and three representatives from non-regional countries);<\/p>\n<p>(iii) Senior Management (President of the Bank \u2013 elected by members of the Board of Governors \u2013 the five Vice-Presidents, the General Council and the Chief Risk Officer);<\/p>\n<p>(iv) International Advisory Panel (specialists indicated by the Presidency).<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text] Asian Infrastructure Investment Bank &#8211; AIIB &nbsp; Updated on October 2017 [\/vc_column_text][vc_empty_space height=&#8221;64px&#8221;][\/vc_column][\/vc_row][vc_row row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; text_align=&#8221;left&#8221; css_animation=&#8221;&#8221;][vc_column][vc_column_text] Nature and Purpose [\/vc_column_text][vc_separator type=&#8221;normal&#8221; border_style=&#8221;&#8221;][vc_empty_space][vc_column_text]Creation:&#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-7952","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Asian Infrastructure Investment Bank - AIIB - brq<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bricspolicycenter.org\/asian-infrastructure-investment-bank-aiib\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asian Infrastructure Investment Bank - AIIB - brq\" \/>\n<meta property=\"og:description\" content=\"[vc_row row_type=&#8221;row&#8221; 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