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Finance

The AIIB adds members and distances itself from Beijing

Chinese-led bank continues to play it safe with syndicated loans in second year

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The AIIB approved a loan of $216.5 million for the National Slum Upgrading Project in Indonesia on June 24, 2016.   © Reuters

JEJU, South Korea/BEIJING The Chinese-led Asian Infrastructure Investment Bank admitted three new members on June 16 at the institution's second annual meeting, lifting its roster to 80 even as the bank continues its cautious approach in deploying capital.

AIIB President Jin Liqun hailed the international bank as "open and transparent" in his opening speech on the South Korean island of Jeju.

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