The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has adopted resolutions approving four applicants to join the Bank, bringing AIIB’s total approved membership to 84. This round of approved applicants includes two regional and two nonregional prospective members.
The approved applicants are the Cook Islands, Vanuatu as regional prospective members and Belarus and Ecuador as non-regional prospective members.
“I wish to extend our warm welcome to the Cook Islands, Vanuatu, Belarus and Ecuador,” said Jin Liqun, President, AIIB. ” The steady expansion of our membership represents a vote of confidence in AIIB by the international community.”
The four prospective members will officially join AIIB once they complete the required domestic processes and deposit the first installment of capital with the Bank. The shares allocated to the new prospective members come from AIIB’s existing pool of unallocated shares.
“AIIB’s approved membership has risen from 57 to 84, expanding our reach within Asia and around the world,” said Sir Danny Alexander, VP and Corporate Secretary, AIIB. “As we start our third year of operations, we look forward to further expanding our membership and strengthening our role in the international financial community.”
At its launch in January 2016, there were 57 signatories to AIIB’s Articles of Agreement. In March, May and June 2017, the Bank announced the approval of another 23 prospective members, who are currently in the process of finalizing their membership. AIIB expects to continue welcoming new members in the future.
Original source: AIIB
Published on 19 December 2017
