A multilateral development bank whose establishment was first proposed by China in 2013. It lists 57 countries, including the UK, as founding members. The purpose of the bank is to provide sovereign-backed and non-sovereign-backed financing to projects contributing to the development of infrastructure and other productive sectors in Asia, and promoting regional cooperation. The bank started operations in December 2015 and has headquarters in Beijing.
http://www.aiib.org The official website of the AIIB.