“The
membership of the Asian Infrastructure Investment Bank (AIIB) is set
to expand further, with France, Germany and Italy reported to have
all agreed to join the China-proposed institution. The decision of
the three European countries, which was revealed by British newspaper
The Financial Times and yet to be officially announced, came in the
wake of Britain's application last week to be a founding member of
the 50-billion-U.S.-dollar bank. Meanwhile, Australian leaders have
been lining up in the past few days to voice support for joining the
AIIB, which marks a conspicuous U-turn from the cabinet's previous
stance.”
“In
addition, South Korea, Switzerland and Luxembourg have reportedly
been pondering whether to join the new international initiative. As
regards Japan, Chinese Finance Minister Lou Jiwei said earlier this
month that the chance to be an AIIB founding member is available for
all Asian countries including Japan by March 31, and the ball is in
Japan's court.”
“Nearly
30 countries have confirmed their participation in the AIIB, which is
aimed at helping finance infrastructure projects across Asia and
expected to come into being within 2015. In response to U.S. concerns
about the standards of the AIIB, Chinese Foreign Ministry spokesman
Hong Lei said last week that the AIIB's operation and governance will
be open, transparent, inclusive and responsible.”
Previously:
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