[ad_1]
The new headquarters of the AIIB near Beijing Olympic Forest Park Photo credit: cnsphoto
The Asian Infrastructure Investment Bank (AIIB) on Thursday announced approval to build a temporary operations center, its first overseas office, as the fast-growing bank aims to expand its global operations.
In a statement to the Global Times, the AIIB said Abu Dhabi in the United Arab Emirates (UAE) would be the preferred location for the hub, “subject to a formal agreement to be finalized in the coming weeks”.
According to the AIIB, the UAE was designated as the preferred location because it best met the bank’s selection criteria, particularly its good connections with the bank’s global members.
The UAE is one of the founding members of the AIIB. As one of the fastest growing economies in the region, the UAE has been actively promoting a green transition.
The bank’s rapid growth was “a catalyst for opening offices that help bring the bank closer to customers and the front lines of business,” the statement said.
The AIIB had 57 founding members in 2016, and now its membership has grown to 105. The bank has developed a portfolio of 181 projects in 33 member countries with a total investment of $35.7 billion to date.
The new center is designed to provide “proximity to global financial centers and connectivity to the international infrastructure ecosystem, which is important to maintain AIIB’s commercial momentum.”
The AIIB envisions the future overseas offices as a powerful platform to effectively oversee the bank’s growing portfolio and enhance the bank’s project monitoring and implementation services globally.
Global Times
[ad_2]
Source link