The Asian Infrastructure Investment Bank (AIIB) led by China eyes to hold its first annual meeting in June in Beijing, the South China Morning Post (SCMP) reported.
Slated on the 25th and 26th of the month, the gathering will include "governors and representatives from 57 members, along with invited observers from international partners."
Though the official statement did not reveal further details, AIIB President Jin Liqun shared in Hong Kong last April that the bank's board members would hold a meeting next month to discuss new membership.
Jin is optimistic that Hong Kong could be a member of the bank this year, hoping the institution could tap "the city's financial strength in raising and managing funds."
Meanwhile, Taiwan remained firm in its remark that it will not join the lender. The news came after Jin emphasized that the island must follow the footsteps of Hong Kong and have China mainland's Ministry of Finance apply for membership on its behalf.
Though this move is in line with the bank charter, Taiwan said that this condition "violates dignity."
Currently, AIIB has 57 members with 30 more nations indicating their strong intent to join the financial institution. Jin hopes that the membership of the bank will eventually reach 100.
The AIIB is seen as a potential rival to the World Bank and the Asian Development Bank, which are dominated by the U.S. and Japan. The two nations previously declined to apply for bank membership.
Jin revealed that the bank targets to have an asset portfolio worth $1.5 billion in its first year. The bank aims to potentially reach at least $4 billion of lending in the next five years
After holding a high-profile inaugural ceremony, the AIIB officially commenced its operations on Jan. 16 of this year.
Earlier, the bank also announced that it has agreed with the World Bank to co-finance a dozen of projects, which are predicted to comprise a majority of the lender's business transactions this 2016.