President of Asian Infrastructure Investment Bank (AIIB) Jin Liqun speaks at a news conference in Beijing January 17, 2016.  REUTERS/Kim Kyung-Hoon
President of Asian Infrastructure Investment Bank (AIIB) Jin Liqun speaks at a news conference in Beijing January 17, 2016. REUTERS/Kim Kyung-Hoon

AIIB says more than 30 countries await membership

March 25, 2016 3:17 PM (UTC+8)

 

(From Reuters)

More than 30 countries are waiting to join the China-backed Asian Infrastructure Investment Bank (AIIB), adding to its 57 founding members, its president said on Friday.

AIIB

The AIIB, first proposed by President Xi Jinping less than two years ago, has become one of China’s biggest foreign policy successes.

Despite the opposition of Washington, almost many major US allies – Australia, Britain, German, Italy, the Philippines and South Korea – have joined.

China says it will be an international institution and not used to boost its influence.

Speaking on the sidelines of the Boao Forum on southern China’s Hainan island, AIIB president Jin Liqun said the bank was working on accepting the new members.

“Over the past two years, we have achieved the purpose of convincing all the members – now we have 57, with more than 30 countries on the waiting list eager to join,” Jin said, responding to a question about whether member countries were convinced the bank was not being used by China to draw countries into its orbit.

Jin did not identify the prospective members.

The Chinese territory of Hong Kong may also be allowed to become a member, he said.

“Hong Kong is an international financial center,” Jin said. “We believe Hong Kong has a role to play in facilitating the financing of the AIIB. For instance, the AIIB can issue bonds in Hong Kong and can also have currency swaps with Hong Kong.”

 

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