China-led development bank to have over 40 founding members

The proposed China-led Asian development bank is likely to have more than 40 founding members, as the Chinese Finance Ministry announced Saturday that three more countries have applied to join the Asian Infrastructure Investment Bank.

Brazil, Georgia and the Netherlands newly filed their applications, while Russia and Australia expressed their intention to join the new bank as China's end-of-March deadline for accepting the AIIB's founding members nears.

Earlier Saturday, Chinese President Xi Jinping urged the active participation of more countries in the AIIB during his speech at the annual Boao Forum for Asia, which gathers political and business leaders in China's Hainan Province, saying the bank is an open initiative.
  [kyodonews.jp]
28/3/15
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