The ‘Asian Infrastructure Investment Bank’ (AIIB) Expands Membership To 70, Approves 13 New Applicants

AIIB Welcomes New Prospective Members

Jin Liqun World Economic Forum 2013

Bank approves 13 new applicants; Expands membership to 70

The Asian Infrastructure Investment Bank (AIIB) announced that its Board of Governors has adopted resolutions approving 13 applicants to join the Bank, bringing the Bank’s total approved membership to 70. This is the first time AIIB has welcomed new prospective members to the Bank since its inception. The approved applicants include five regional and eight non-regional prospective members.

The approved applicants are as follows:

Regional Prospective Members Non-Regional Prospective Members
Afghanistan Belgium
Armenia Canada
Fiji Ethiopia
Hong Kong, China Hungary
Timor Leste Ireland
  Peru
Repubic of Sudan
Venezuela

“The interest in joining AIIB from around the world affirms the rapid progress we have made to establish the Bank as an international institution,” said Jin Liqun, President, AIIB. “I am very proud that AIIB now has members from almost every continent, and we anticipate further applications being considered by our Board of Governors later this year.”

The 13 prospective members will officially join AIIB once they complete the required domestic processes and deposit the first installment of capital with the Bank. The shares allocated to the new prospective members come from the Bank’s existing pool of unallocated shares.

At its launch in January 2016, there were 57 signatories to AIIB’s Articles of Agreement. The Bank expects to welcome more prospective members throughout the year.

About AIIB

AIIB is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia. Headquartered in Beijing, AIIB’s mission is to improve economic and social development in Asia by investing in high quality, financially viable and environmentally friendly infrastructure projects.

[Source: AIIB-Media Relations]

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