China-backed AIIB plans offices in HK, Singapore

The Asian Infrastructure Investment Bank (AIIB) is in talks to open offices in Hong Kong and Singapore, marking its most significant expansion since launching in Beijing in 2016, Bloomberg reported, citing sources. Discussions are underway with authorities in both cities, with a possible announcement at AIIB’s annual meeting in June pending final approvals. The multilateral lender, backed by China and holding over USD57bn in assets as of end-2023, aims to strengthen its regional presence and support for infrastructure financing across Asia. The move would enhance its connectivity with global financial centers as membership has grown to over 100 economies, including several US allies. The planned offices reflect rising demand for infrastructure funding and the strategic role of Hong Kong and Singapore in Asian finance, analysts said.