AIIB approves 7 new applications, expands membership to 77

The Asian Infrastructure Investment Bank (AIIB) announced Saturday that itsmembership has been expanded to 77 after its Board of Governors approved newapplications 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, namelyBolivia, Chile, Greece and Romania.

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

The bank announced the introduction of its first 13 new members this March, bringing thebank’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.

The story is also published on People’s Daily Online

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