06:30 GMT30 May 2020
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    AIIB President welcomed the Canadian decision to apply for membership of the bank, press release said.

    BEIJING (Sputnik) — President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun on Wednesday welcomed the Canadian decision to apply for membership of the bank, the AIIB said in a press release.

    "The decision of Canada to apply to join AIIB is very welcome and shows its confidence in the strong foundations the Bank has built in our first few months. Canada has a remarkable track record of multilateral engagement, and I believe it will contribute significantly to the development of this Bank," Jin said at a joint press conference with Canadian Finance Minister Bill Morneau.

    The minister replied that success in the global economy requires strategic partnerships and membership of the AIIB is a perfect opportunity to achieve this.

    The AIIB president said in June that the deadline for AIIB membership applications was September 2016 with new members were expected to join the bank in the beginning of 2017.

    The AIIB, an international financial institution proposed by China to invest in infrastructure projects in the Asia-Pacific region, was created in October 2014 and currently has 57 founding members.

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    approval, membership applications, Asian Infrastructure Investment Bank (AIIB), Jin Liqun
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