AIIB 'targeting expansion' into Hong Kong, Singapore

The Asian Infrastructure Investment Bank is considering establishing new offices in Hong Kong and Singapore, in what would be its biggest expansion since its founding in Beijing nearly a decade ago, Bloomberg reported on Wednesday, citing people familiar with the matter.

The multilateral lender, which had over US$57 billion (HK$444.6 billion) in assets at the end of 2023, is reportedly in talks with local authorities in both cities, Bloomberg reported.

One of the sources said the bank may announce the move at its annual meeting in June, pending final agreements with the respective governments.

The AIIB was founded by China in 2016 as a regional multilateral development bank aimed at supporting infrastructure projects across Asia. Its membership has grown to over 100 economies, including several US allies such as the European Union, Canada, Australia, and New Zealand.

STAFF REPORTER