The Asian Infrastructure Investment Bank will abide by its commitment to transparent multilateral governance, a characteristic which distinguishes it from other multinational development banks, said Joachim von Amsberg, AIIB vice-president for policy and strategy.

"It means no single country runs the institution, the 77 members are running this group collectively," von Amsberg said on Thursday at London's Asia House, addressing a large audience of policy makers and financiers, including representatives from more than 20 countries' embassies and high commissioners in London.

His words came just weeks after the AIIB announced its latest approval of seven countries to become new members in May, bringing its total membership to 77. The latest members are Bahrain, Cyprus, Samoa, Bolivia, Chile, Greece and Romania.