Multination Asian bank plans capital of $100 billion

The planned Asian Infrastructure Investment Bank has a capital target of more than $100 billion and will attract more than 30 countries within and beyond Asia, an official said on Sunday.

Wei Jianguo, vice-chairman and secretary-general of the China Center for International Economic Exchange, said on the sidelines of the Boao Forum for Asia on the AIIB that the bank plans to start with $50 billion from governments and at least another $50 billion from financial institutions and private capital.

Wei said the multilateral bank aimed to attract more than 30 nations. He emphasized that the AIIB is an open and inclusive platform that welcomes not just nations from Asia but others as well, including the United States and European countries.