The Asian Infrastructure Investment Bank (AIIB) released its annual report over the weekend, posting a total investment of $4.2 billion for last year in energy, transport, and infrastructure projects throughout the continent and North Africa, Caixin reports.
The bank’s investments jumped 150% in 2017 from the previous year, which was also its first full year in operation after its founding. Net income increased $85 million from 2016, according to the report, and total paid-in capital was $19 billion.
The AIIB is the world’s first multilateral development lending body led by China, with other similar organisations such as the World Bank and the Asian Development Bank having a dominant influence from Western nations.
The report also made mention of the banks plans to expand both in financial and geographic scope.
“With its second year of operations completed, AIIB has been emerging from an idea into its own reality,” President Jin Liqun wrote in the report. “We will continue to balance our investments among a whole range of sectors and countries. Our continued focus on Asia will not compromise our efforts to care for non-regional members.”