AIIB accepts 5 more prospective founding members

GMT 03:38 2015 Monday ,13 April

Arab Today, arab today AIIB accepts 5 more prospective founding members

Asian Infrastructure Investment Bank (AIIB)
Beijing - XINHUA

The Netherlands, Brazil, Finland, Georgia and Denmark have been approved as prospective founding members of the Asian Infrastructure Investment Bank (AIIB), the Ministry of Finance said on Sunday.

This brings the total number of prospective founders to 46, the ministry said in a statement on its website.

Founding members have the right to make rules for the bank. Countries that applied to join after March 31 will be ordinary members with voting rights only, and less say in the rule-making process. The founder membership will be finalized on April 15.

The AIIB will provide financing for roads, railways, airports and other infrastructure projects in Asia. It is expected to be established by the end of this year.

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