AIIB to incorporate new members to deliver more dividends to regional countries: China

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BEIJING, May 23 (APP): China on Tuesday announced that the Asian Infrastructure Investment Bank (AIIB) under an expansion plan would incorporate more countries as its members to deliver more dividends to the regional countries.
“China is initiator of the investment bank and as an initiator it will like to see the bank becoming stronger and playing an important role in promoting infrastructure building connectivity and promoting common development for regional countries”, Spokesperson of Chinese Ministry of Foreign Affairs, Hua Chunying said on Tuesday.
When her attention was drawn by APP Correspondent to a statement of President, AIIB, Jin Liqun that the bank expected to grow its membership to 85 by the end of this year, she said, “The bank is an open multilateral financial institution and it is according to the agreement, it admits new members”.
The spokesperson hoped that expansion of the bank would incorporate more countries and deliver more dividends to the more countries.
Jin said at the Jiangsu Development Summit in Nanjing, East China’s Jiangsu province last week that by the end of this year, a total of 85 countries and regions will become AIIB’s members.
China won broad support for the establishment of AIIB, with 57 founding members, Jin said and added the Belt and Road Initiative and the AIIB were both great initiatives.
Reflecting on the process of setting up the new bank and securing support from founding members, he said China had shown its willingness to serve the world using the experience of reform and opening up.
“Though the Belt and Road Initiative doesn’t cover all AIIB members, we will put more efforts in the future and believe more and more countries will join the AIIB,” Jin added.
With 57 signatories at its launch in January 2016 and the approval of 13 prospective members in March 2017, AIIB aims to provide financing to address the daunting infrastructure needs across Asia.