Baku, Azerbaijan, Mar. 27
By Anvar Mammadov - Trend:
The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) adopted a resolution to expand the number of the bank’s members, the AIIB said Mar. 27.
The Board of Directors of the AIIB approved the applications of 13 countries, among which there will be five regional and eight non-regional members.
Afghanistan, Armenia, Fiji, Hong Kong (China) and East Timor will be new regional members of the AIIB, while Belgium, Canada, Ethiopia, Hungary, Ireland, Peru, Sudan and Venezuela will become the bank’s non-regional members.
Thus, the total number of members of the bank will reach 70. New members will join the AIIB after the necessary internal processes are completed and the first capital contributions to the bank are made. The new members will receive their shares from the existing pool of unallocated shares of the AIIB.
Azerbaijan’s share in the AIIB capital is 0.2763 percent ($254.1 million).