Editor's Note: Xue Tianhang is an associate researcher of the Research Center for Regional Coordinated Development, Zhejiang University. The article reflects the author's views, and not necessarily those of CGTN. It has been translated from Chinese and edited for brevity and clarity.

The Asian Infrastructure Investment Bank (AIIB) is the first multilateral financial institution founded at China's initiative. Officially established on December 25, 2015, it aims to promote infrastructure development, regional connectivity and economic integration across Asia, while strengthening China's cooperation with other Asian countries and regions. Over the past decade, the AIIB has remained committed to internationalization, standardized governance, and high-quality operations, delivering substantial outcomes and actively advancing the vision of a community with a shared future for mankind.

The AIIB's membership has been expanding steadily. According to the latest data, its members have grown from 57 founding members to 110, covering over 80 percent of the world's population and more than 60 percent of global GDP, making it second only to the World Bank in terms of number of members. As new members continue to join, the AIIB is no longer solely focused on Asian affairs and has increasingly addressed the development needs of members in Africa, Latin America, Central and Eastern Europe, and other regions.

The AIIB's influence is on the rise. With a focus on enhancing infrastructure connectivity, its projects have contributed to improving infrastructure and quality of life in its member states, especially developing countries. In terms of the total quantity, according to figures released at an AIIB media briefing on June 11, the AIIB had approved 318 projects with total financing exceeding $60 billion and mobilized over $200 billion in capital for infrastructure construction, benefiting 38 members both within and beyond Asia. 

As for specific projects, shortly after its establishment, the AIIB extended a $165 million loan to Bangladesh to upgrade the local power distribution system, helping the country install power transmission lines, meters, and transformers in rural areas. In the face of dual challenges posed by COVID-19 pandemic and natural disasters, the AIIB responded swiftly, providing nearly $14.7 billion in emergency funding to 26 developing members to support their economic recovery and improve people's livelihoods. 

Amid mounting global challenges, the AIIB remains committed to its core values of being "lean, clean, and green." Moreover, it unwaveringly champions multilateralism, strictly follows a multilateral governance framework, and embraces the principles of extensive consultation, joint contribution, and shared benefits. The AIIB has become an increasingly crucial player in the global governance system. With its members spanning various developing countries and advanced economies, the AIIB has served as a vital bridge for South-South Cooperation and North-South Dialogue. 

In addressing global agendas such as climate change, it has actively advanced its mission of pursuing green, low-carbon development. According to the latest data, climate financing accounted for over half of the AIIB's total approved financing in 2022, 2023, and 2024, with this share reaching 67 percent in 2024. The AIIB is now steadily progressing toward its new goal of allocating at least 50 percent of its annual financing approvals as climate finance through 2030.

The past decade has marked the AIIB's steadfast commitment to multilateralism and shared development. From providing infrastructure financing to driving green transformation, from improving regional livelihoods to tackling global climate change, the AIIB has proven the power of multilateral cooperation through concrete action. In the future, the AIIB will continue to fulfill its significant and unique role, with a strong focus on sustainable infrastructure and economic development, injecting fresh momentum into global development.