"In October 2013, at the Asia-Pacific Economic Cooperation Summit in Bali, Indonesia, China proposed creating a new multilateral development bank (MDB), the Asian Infrastructure Investment Bank (AIIB). As its name suggests, the Bank's stated purpose is to provide financing for infrastructure needs throughout Asia, as well as in neighboring regions. As of January 2017, the AIIB has approved nine projects, investing a total of $1.7 billion. [...] As AIIB membership has expanded to include developed countries in Asia and Europe (and possibly Canada), China has since tried to distance the AIIB from the OBOR ['One Belt, One Road'] initiative through co-financing arrangements for its initial loans. It is uncertain how China will balance its stated goal of establishing an independent and high-standard MDB, while pursuing China's own economic and national security priorities."
CRS Report for Congress, R44754
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html