China-Led Development Bank Adds More Members in Status Boost

Bloomberg, Mar 23, 2017
by Bloomberg Staff

The standing of the China-led Asian Infrastructure Investment Bank is set to receive another boost after 13 further applicants were granted membership. The accessions will bring the total roster of member countries to 70, and leave Japan and the U.S. as the only Group of Seven states without a stake in the lender. Memberships for Afghanistan, Armenia, Belgium, Canada, Ethiopia, Fiji, Hong Kong, Hungary, Ireland, Peru, Sudan, Timor Leste and Venezuela would be completed once they finish domestic processes and deposit the first payment of capital, the AIIB said in a statement Thursday. Please click here to continue reading this article.