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.”
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.