The Asian Infrastructure Investment Bank (AIIB) has recently signed an agreement to create its first Interim Operational Hub in Abu Dhabi Global Market, marking its initial foray into establishing an overseas office. AIIB is a multilateral development bank that focuses on financing infrastructure projects that prioritize sustainability. As the host country for COP28 later this year, the UAE has emphasized the importance of climate finance, a key concern for nations as they strive to increase their efforts and commitments towards climate action.
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China – China is the largest contributor to the AIIB, with a share of around 26% of the bank’s capital.
South Korea – South Korea has a share of around 3.8% in the AIIB, making it one of the major contributors to the bank.
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