- The Executive has already expressed interest to the Chinese Government, promoter of this multilateral financial institution
- The bank will have a capital of 100,000 million dollars and the participation in its capital of thirty countries
Spain will participate in the foundation of the Asian Infrastructure Investment Bank (BAII). The Executive has already sent to the Chinese Government, the bank's promoter, a letter expressing its intention to get involved from the outset in the preparation of the Agreement Establishing this new and important multilateral financial institution. This agreement is expected to be approved this year.
The objective of the BAII is to promote the sustainable development of Asia, focusing on the financing of energy, transport and telecommunications infrastructures, as well as on the financing of projects for urban and rural development and environmental conservation in the region. The institution will have an authorized capital of 100 billion dollars and will provide financial support to projects in Asian countries through the granting of loans, investment in capital or the granting of guarantees. The BAII will work closely with other existing multilateral development banks such as the Asian Development Bank or the World Bank. The financial participation of Spain will be decided after the approval of the Constitutive Agreement, at the time of its effective entry into the institution.
The foundation of the BAII was proposed by China in 2013. Currently, more than thirty countries, particularly in the region, have expressed their intention to participate in this institution. Several countries in Western Europe (United Kingdom, Luxembourg, Switzerland, Germany, France and Italy) have also announced their interest in being part of the bank's foundation.
