The Asian Infrastructure Investment Bank aims to differentiate itself from other international lenders, with a more efficient structure.
The 57 founding members agreed at a meeting last month to oversee the organization with an unpaid, non-resident board of directors, unlike the World Bank and the Asian Development Bank.
The AIIB will open project bidding to all, unlike the ADB, which restricts contracts to member countries. The new bank's headquarters will be located in Beijing, and the bank will use English as its operating language.
People close to the institution say that at least 75 percent of the share votes are reserved for members in the Asia-Pacific region, giving smaller Asian countries a greater say.