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Xi Jinping Addresses the Fifth Annual Meeting of The AIIB

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EIRNS — Chinese President Xi Jinping delivered a video address to the fifth annual meeting of the Asian Infrastructure Investment Bank (AIIB), and stated that “The initiative is designed to develop infrastructure and connectivity in Asia and deepen regional cooperation for shared development.” According to Global Times, Xi also called for making the AIIB “a new platform that promotes development for all its members and facilitates the building of a community with a shared future for mankind.... He called on efforts to make the AIIB a new type of multilateral development bank that promotes development across the world, a new type of development platform progressing with the times, a new type of high-performance institution for international cooperation and a new paradigm of multilateral cooperation.”

The AIIB was launched in January 2016, and now has 102 members, providing about $20 billion in infrastructure investment loans to its members. [dns]