09:16 GMT +319 September 2019
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    Jin Liqun (C), the first president of the Asian Infrastructure Investment Bank (AIIB), speaks to journalists during a press conference in Beijing on January 17, 2016

    Asian Infrastructure Investment Bank Expands Membership to 77 Countries

    © AFP 2019 / FRED DUFOUR
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    The Asian Infrastructure Investment Bank (AIIB) announced May 13 that its membership has been expanded to 77 after its Board of Governors approved new applications from seven countries.

    Jin Liqun, AIIB president, said that three of the new members are "regional" — Bahrain, Cyprus, and Samoa. The other four are non-regional prospective members, namely Bolivia, Chile, Greece and Romania.

    The seven prospective members also need to complete the required domestic processes and deposit their first installment of capital with the AIIB before officially joining the bank.

    The bank announced the introduction of its first 13 new members this March, bringing the bank's total membership to 70 from 57 signatories at its launch in January 2016.

    New members are welcomed to join the bank this year, it pledged.


    This article was originally published on huanqiu.com.


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