07:53 GMT25 September 2020
Listen Live
    Business
    Get short URL
    China's World Bank: Opportunity or Threat? (57)
    0 106
    Subscribe

    AIIB currently has nearly 40 so-called prospective founding members from across the world, including the United Kingdom, France and New Zealand.

    BEIJING (Sputnik) — The existing founding members of the China-led Asian Infrastructure Investment Bank (AIIB) have accepted Turkey’s application to join the bank as a founding state, the Chinese finance ministry said Friday.

    The ministry said on its website:

    “With the consent of the existing founding members, Turkey officially became a founding country of the Asian Infrastructure Investment Bank on April 10.”

    The creation of the AIIB was proposed by China in a bid to boost investment in infrastructure projects in the Asia-Pacific region.

    AIIB currently has nearly 40 so-called prospective founding members from across the world, including the United Kingdom, France and New Zealand.

    The Chinese-led project has reportedly raised concerns in the United States that it could create competition for Western financial institutions.

    According to various media claims, Washington has been exerting diplomatic pressure to stop its allies from joining the bank.

    Topic:
    China's World Bank: Opportunity or Threat? (57)

    Related:

    China's AIIB Boom: 'Pax Sinica' Replaces 'Pax Americana' – Wayne Madsen
    Et Tu, Brute? Israel Latest US Ally to Join Chinese AIIB
    Europe Gets ‘Foot in The Door’ in Asia by Joining AIIB
    47 Countries to Join China-Led Development Bank
    Tags:
    Asian Infrastructure Investment Bank (AIIB), Turkey, China
    Community standardsDiscussion