AIIB is going to provide funds for the better development of road system,telecommunication and other infrastructure development.this development projects are for the poorer region of the asia .India and other 49 members of the asian infrastructure investment bamk signed an agreement providing an legal framework for the china $100billon multilateral asian infrastructure investment bank.This agreement is going to sign at beijing at the great hall of the people.Australia was the first country to sign the agreement with 49 other members.Seven more countries are like to sign by the year end.The bank will have capital of $100billion.
"The AIIB will uphold high standard and follow international rules in its operation policy making and management to ensure efficiency and transparency".
LOU JIWEI, FINANCE MINISTER,CHINA.
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