US not reconsidering joining Asian infrastructure bank

GMT 12:03 2015 Wednesday ,18 March

Arab Today, arab today US not reconsidering joining Asian infrastructure bank

Asian Infrastructure Investment Bank (AIIB)
Washington - XINHUA

The United States is not reconsidering entry to the Asian Infrastructure Investment Bank ( AIIB) despite the agreement by more of its European allies to join the China-proposed institution, the State Department said on Tuesday.
"I'm not aware of a reconsideration," spokeswoman Jennifer Psaki told reporters at a daily news briefing.
Germany, France and Italy confirmed on Tuesday their intention to join the AIIB, following Britain's application last week to be a founding member of the 50-billion-U.S.-dollar bank.
Psaki reiterated U.S. demand for high standards incorporated into the multilateral institution.
"Our position on AIIB remains clear and consistent," she said. "We believe there is a pressing need to enhance infrastructure investment around the world. We believe any new multilateral institution should incorporate the high standards that the international community has collectively built at the World Bank and the regional development bank."
She would not say Washington was disappointed at its allies' moves, stating "These are decisions made by sovereign countries."
"But it will be important for prospective members of the AIIB to push for the adoption of those same high standards," she added.
Nearly 30 countries have confirmed their participation in the AIIB, expected to be formally established by the end of this year. The application deadline is on March 31.
In response to U.S. concerns about the standards of the AIIB, Chinese Foreign Ministry spokesman Hong Lei said last week that the bank's operation and governance would be "open, transparent, inclusive and responsible."

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