The Asian Infrastructure Investment Bank
The Asian Infrastructure Investment Bank (AIIB) was founded in 2015 as an initiative by the People's Republic of China. Its goal is to support sustainable economic development in Asia, specifically through the financing of infrastructure projects.
Switzerland joined the AIIB in early 2016 and is represented in the Board of Directors by an Advisor.
Role and activities of the AIIB
The AIIB has 70 members: 44 regional and 26 non-regional, most of which are European countries.
The AIIB’s activities focus on infrastructure projects in transportation, energy and water supply, as well as on the development of rural areas and agriculture in Asia. It will use its own resources and also mobilise public capital and private investments. The AIIB will grant loans, issue guarantees and invest in equity capital.
Switzerland and the AIIB
Switzerland submitted its ratification document on 25 April 2016, thereby formally completing its membership of the AIIB. This membership is consistent with Swiss development and foreign economic policy. The AIIB meets all of the conditions for becoming a key player among the MDBs. In Asia it can make a substantial contribution to overcoming the serious lack of infrastructure, promoting sustainable economic growth and fighting poverty. Moreover, Switzerland’s membership will strengthen its relationship with China and the entire region, offering Swiss entrepreneurs new opportunities to expand their business networks in the region.
Switzerland shares a constituency with the UK, Poland, Sweden, Norway, Denmark and Iceland. This constituency is currently represented by a British Director and a Norwegian and a Swedish Alternate Director.