AIIB has 3 new members, bringing the total to 109

The Asian Infrastructure Investment Bank (AIIB) now has 109 members after its Board of Governors approved the applications of El Salvador, Solomon Islands and Tanzania today, September 26.

The 8th annual meeting of the AIIB is the first to be held in Africa. (Source: Xinhua)

The AIIB approved the applications of the three economies during its 8th annual meeting held in the Egyptian resort of Sharm El-Sheikh, the bank said in a statement.

“The AIIB has a track record of successful cooperation with our members,” said AIIB President Jin Liqun, adding the three economies “will strengthen the AIIB community and support our shared mission of financing infrastructure for the future.”

According to the statement, El Salvador, Solomon Islands and Tanzania will officially join AIIB after completing domestic procedures and depositing the first capital into the bank.

AIIB members now account for a total of 81% of the world's population and 65% of global gross domestic product.

Established in 2016 in Beijing, China, the AIIB is a multilateral development bank tasked with financing infrastructure that prioritizes sustainability.

The projects that this bank invests in are mainly in more than 10 countries located in Southeast Asia, East Asia, South Asia, Central Asia, West Asia, Africa, in the fields of transportation, energy, telecommunications and urban development. All 10 ASEAN countries are members of AIIB.

The two-day annual meeting of the AIIB opened on September 25 with the theme “Sustainable Growth in a Challenging World”.

This is the first in-person meeting of the bank's members since 2019 and the first annual meeting to be held on the African continent.

Source: https://baoquocte.vn/aiib-co-them-3-thanh-vien-moi-nang-tong-so-len-109-243780.html