Tonga joins Asian Infrastructure Investment Bank

Tonga has joined the Asian Infrastructure Investment Bank (AIIB), becoming its 84th member at an official flag raising ceremony held at the AIIB headquarter in Beijing, China, on 5 February. The AIIB was established in 2016 with $100 billion capital. It was created with the purpose of serving as a regional financing tool for Chinese President Xi Jinping’s “One Belt, One Road” initiative.