The Asian Development Bank Institute published a report in 2010 which said that the region requires $8 trillion to be invested from 2010 to 2020 in infrastructure for the region to continue economic development.[2][6] In a 2014 editorial, The Guardian newspaper wrote that the new bank could allow Chinese capital to finance these projects and allow it a greater role to play in the economic development of the region commensurate with its growing economic and political clout.[7]
In June 2014 China proposed doubling the registered capital of the bank from $50 billion to $100 billion and invited India to participate in the founding of the bank.[8][9] On October 24, 2014, a signing ceremony held in Beijing formally recognized the establishment of the bank. 21 countries signed the bill, which included: China, India, Thailand, Malaysia, Singapore, the Philippines, Pakistan, Bangladesh, Brunei, Cambodia, Kazakhstan, Kuwait, Laos, Myanmar, Mongolia, Nepal, Oman, Qatar, Sri Lanka, Uzbekistan, and Vietnam.[10] U.S. pressure allegedly kept Australia and South Korea from signing up as founding members, despite the fact that they had formerly expressed an interest in it.[11] Indonesia's joining was slightly delayed due to their new presidential administration not being able to review the membership in time.[12]
http://en.wikipedia.org/wiki/Asian_Infrastructure_Investment_Bank
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