AIIB Expands Membership to 100

CNC
Added On July 15, 2019

The China-initiated Asian Infrastructure Investment Bank (AIIB) has approved the membership of Benin, Djibouti and Rwanda, bringing its total approved membership to 100.

The decision was made unanimously by AIIB's Board of Governors at its fourth annual meeting held in Luxembourg.
 
The three prospective non-regional members will officially join AIIB once they complete the required domestic processes and deposit the first capital installment with the Bank.
 
Also at the meeting, AIIB's Board of Governors elected Chinese Finance Minister Liu Kun chairman of the board.
 
Under the theme "Cooperation and Connectivity," the two-day annual meeting of AIIB draws over 1,000 AIIB officials, representatives from members and partner institutions, business leaders and experts.
 
The AIIB, a multilateral development bank investing in sustainable infrastructure and other productive sectors in Asia and beyond, began operations in 2016.
 
The bank has approved more than 40 projects totaling about 8.5 billion U.S. dollars.