The 8^th AIIB Chief Negotiators’ Meeting convened in Jakarta, Indonesia on November 3-4, 2015

The 8^th Chief Negotiators’ Meeting on the Establishment of the Asian Infrastructure Investment Bank (AIIB) was held on November 3-4, 2015 in Jakarta, Indonesia. The Meeting was chaired by Mr. Shi Yaobin, Vice Minister, Ministry of Finance, China and Permanent Chair of the Chief Negotiators’ Meetings, and Mr. Andin Hadiyanto, Assistant Minister, Ministry of Finance, Indonesia. Representatives from the Prospective Founding Members (PFMs) of the AIIB and Mr. Jin Liqun, AIIB President-designate, attended the Meeting.

At the Meeting, representatives discussed: the draft AIIB 2016 Business Plan and Budget; the draft Public Information Interim Policy; the draft Environmental and Social Framework; and preparations for establishing the Bank.

The AIIB, which will be headquartered in Beijing, is a new multilateral financial institution designed to provide financial support for infrastructure development and regional connectivity in Asia. The Bank’s Articles of Agreement have been signed by 54 of the Bank’s 57 Prospective Founding Members. The Articles remain open for signature by PFMs until December 31, 2015. It is expected that AIIB will be launched by the end of 2015.