Asian Infrastructure Investment Bank to Have 100 Members by Year End

GMT 15:07 2016 Wednesday ,01 June

Arab Today, arab today Asian Infrastructure Investment Bank to Have 100 Members by Year End

The Asian Infrastructure Investment Bank
Beijing - QNA

The Asian Infrastructure Investment Bank (AIIB) will expand its membership from 57 to nearly 100 countries and regions this year, AIIB President Jin Liqun said. Some 30 countries are waiting to join the AIIB, 20 have expressed "firm commitment," Wednesday's China Daily cited Jin as saying. 

    While the United States and Japan have declined to join the bank, Jin said all countries would work together, regardless of the bank membership. "The door will remain open," Jin said, adding that U.S. and Japanese companies will be treated equally and fairly by the AIIB, according to the newspaper. 

    According to the AIIB chief, the bank will announce its the first round of infrastructure projects this month, and the second and third rounds by the end of the year. Jin said the bank will extend funding to non-Asian countries with "strong economic relations" with the continent and from physical infrastructure projects to sectors including education, health care, and urban planning and management. 

    Beijing-based AIIB was officially established late last year. With authorized capital of 100 billion U.S. dollars, it prioritizes investment in energy, power generation, transportation, rural infrastructure, environmental protection and logistics.

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