Full coverage: Belt and Road Initiative

The first annual meeting of Asian Infrastructure Investment Bank is being held in Beijing. Governors and representatives from 57 members of the AIIB attended the opening ceremony this morning.

The bank, which supports infrastructure development and regional connectivity in Asia, was officially established last December. It announced on Friday that it had approved its first four loans totalling over half a billion US dollars.

And it aims to loan approximately US$1.2 billio in 2016. At this morning's opening ceremony, Chinese Premier Zhang Gaoli said China hopes the AIIB can be actively involved in the development of countries along the "Belt and Road". While the President of AIIB Jin Liqun expressed his confidence in the development of the bank.