The new global development bank is now online and is ready to serve governments of the world. This is the official inauguration of the new financial system that will usher in a new era of massive economic development for humanity.
We shall remember this time as the day when real men stood their ground and did what they believed was right for the people.
China-led AIIB development bank officially launched, elects first president
The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) has held its inaugural meeting, declaring the bank open for business and electing its first president, Jin Liqun.
Chinese president Xi Jinping, as well as Prime Minister Li Keqiang, delivered opening addresses at the official ceremony, which was also attended by high officials from other multilateral banks.
“Asia’s financing needs for basic infrastructure are absolutely enormous,”President Xi said, adding that the bank is going to invest in high-quality, low-cost projects.
Premier Li Keqiang said that Asia needs investment in infrastructure and connectivity to remain the most dynamic region for global growth.
One of the main decisions made on Saturday was the selection of AIIB’s president. Jin Liqun, who has served as AIIB’s President-designate since September 1, 2015, was elected to that position.
“AIIB is now ready to join the family of multilateral financial institutions, investing in sustainable infrastructure for the improvement of lives across Asia,” Liqun said in his first statement as president.