China's AIIB gains popularity very fast

(MENAFN) There are over 30 nations waiting to join the Asian Infrastructure Investment Bank (AIIB), adding to the already existing 57 founding participants, based on recent reports.

Accordingly, the current financial institutions cannot completely meet every country's infrastructure and other demands, so new ones like the AIIB will be a significant help.

A not-for-profit multilateral development bank initiated by China, the AIIB was established in Dec and it started operating in Jan, and it's due to unveil its first schemes in the 1st half of 2016.

Additionally, China's Hong Kong Special Administrative Region is strongly expected to become a member as a sub-sovereign government, based on the bank's articles of agreement.