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China-based Development Bank to Ramp Up Lending by $10 Billion a Year

The headquarters of the Chinese-initiated Asian Infrastructure Investment Bank in Beijing. Image via Xinhua.

While China’s two major policy banks have pulled hard on the reins to curtail development financing in the Global South, the Beijing-based Asian Infrastructure Investment Bank is going in the opposite direction.

AIIB’s President Jin Liqun told the Financial Times that the bank plans to boost financing to “more than $10 billion a year” through 2025. Plus, he said the bank will expand its portfolio beyond Asia to other regions throughout the developing world.

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