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46 countries apply to become members of AsianInfrastructure Bank

April01/ 2015

Beijing, April 1 : Forty-six nations across the globe have applied to become founding members of theAsianInfrastructure Investment Bank, proposed by China, when the deadline closed on Tuesday, a report said.

Jin Liqun, secretary general of the AIIB’s multilateral interim secretariat, said that “productive” negotiations were held among the potential founders of the bank at a working conference on the bank’s preparatory work in Almaty, Kazakhstan, reportedChina Daily.

The report said that it will take about two weeks to reach a decision and the final list of founding members will be out as early as April 15, after which countries may apply to join as ordinary members.

Rules are expected to be finalized and signed in the middle of the year following a final session planned for May. The bank will be established by the end of this year.

The bank will be a multilateral institution aimed at funding infrastructure projects in Asia. Major western powers have flocked to join the bank, including Germany, France, UK and Italy.

Tags: #AsianInfrastructureBank
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