Iran to become founding member of Asian Infrastructure Investment Bank

Business Materials 27 June 2015 14:56 (UTC +04:00)

Tehran, Iran, June 27

By Mehdi Sepahvand - Trend:

Iranian Minister of Economy Ali Tayyebnia is in Beijing, China to sign the Asian Infrastructure Investment Bank (AIIB) statute whereby Iran will become a founding member of the bank.

As a founding member, the Islamic Republic of Iran will try to play an active role in the AIIB's activities, Tayyebnia said, Mehr news agency reported June 27.

The bank can be a complementary for other banks that work in financial procurement in developmental plans, he hoped.

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.