BEIJING -- The Chinese-led Asian Infrastructure Investment Bank said Wednesday that it expects to approve about $1.2 billion in financing this year.
Approval of the first AIIB-funded project is expected as early as June. Most of its lending this year is likely to be done in coordination with the World Bank and the Asian Development Bank.
The AIIB was established in January. Its president, China's Jin Liqun, had speculated in December that it would lend $10 billion to $15 billion a year in its first 5 to 6 years.