ABSTRACT
The Asian Infrastructure Investment Bank (AIIB) was established in 2015, by 57 founding members, as a new multilateral financial institution, with the aim of promoting economic development in the Asia-Pacific region through the funding of projects focused on infrastructure development, energy and regional connectivity. Powers delegated to it by the Board of Governors include: establishing policy; approving strategy, and an annual plan and budget; overseeing the Bank's management and making decisions with regard to its operations. The inaugural meeting of the Board of Governors was convened in January 2016. In June of that year the Board approved the AIIB's Energy Sector Strategy: Sustainable Energy for Asia. In July the Board of Directors adopted a new governance model that aimed to enhance its role in informing the AIIB's policies and strategies, and which strengthened its ability to hold the President accountable for the management of the Bank.
