The Asian Infrastructure Investment Bank (AIIB) aims to use infrastructure to improve economic development in Asia. When it was first founded in 2013, it was assumed to be a competitor to the established system of development banks, like the World Bank or ADB. But it soon proved how sorely needed additional funding for Asian infrastructure was. The bank attracted members not only from Asia but as far as Europe. The UK also joined as a founding member. Earlier I talked to Sir Danny Alexander, vice president and corporate secretary of the AIIB. He told me that high standards are a must for the Belt and Road Initiative to be a success.
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