The Asian Infrastructure Investment Bank (AIIB) announced on 23 March that Hong Kong will become a new member. The AIIB is a Multinational Development Bank headquarted in Beijing. Its mission is to improve economic and social development in Asia by investing in infrastructure projects. It is expected to play a key role in the financing of China's visionary development policy, the Silk Road Economic Belt and 21st Century Maritime Silk Road. Belgium, Hungary, Ireland and nine others are also set to join. More info.