AIIB

The World Bank's board of directors approved loans of $400 million each for Turkey and Azerbaijan late on Dec. 20 for the Trans-Anatolian Natural Gas Pipeline (TANAP) project. 

The World Bank and the new China-backed Asian Infrastructure Investment Bank, originally seen as possible rivals, joined hands April 13 with an agreement to co-finance projects.

Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on Jan. 16, as Beijing seeks to change the unwritten rules of global development finance. 

Turkey has ratified the establishment agreement of the Asian Infrastructure Investment Bank (AIIB), which was signed in June 2015. 

According to a regulation, revealed in the Official Gazette on Jan. 12, Turkey will not pay more than $2.6 billion as the capital contribution to the bank. 

The Turkish cabinet has also been authorized to increase this amount by up to five times. 

By Eurogroup Chief and Dutch PM Jeroen Dijsselbloem at the Eurogroup Press Conference on December 7

Good evening everyone and welcome to this press conference. I was going to say that we’ve had busier turnouts – looking at the audience tonight – but it makes sense, because we also had a short Eurogroup meeting.

Japanese Prime Minister Shinzo Abe and business leaders are due to return on Oct. 28 evening from a week-long tour of Central Asia after striking business deals worth more than $26 billion.

A new $100 billion international bank dedicated to the emerging BRICS countries opened in China's commercial hub Shanghai on July 21, officials said, as an alternative to other multilateral lenders.

The "New Development Bank," backed by the so-called emerging BRICS nations Brazil, Russia, India, China and South Africa, has been viewed as a challenge to Washington-based institutions.

Countries from five continents formally signed up on June 29 to the China-led Asian Infrastructure Investment Bank -- a potential rival to the Washington-based World Bank -- as Beijing steps up its global diplomatic and economic role.

The Australian government on June 24 said it would contribute A$930 million ($718.9 million) over five years to the new China-led Asian Infrastructure Investment Bank (AIIB), making it the  institution's sixth largest shareholder. 

Japan will announce a $100 billion plan to invest in roads, bridges, railways and other building projects in Asia, a report said May 19, weeks after China outlined its vision for a new infrastructure development bank in the region.