Asian Infrastructure Investment Bank approves Serbia's membership application

The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved the membership application of Serbia, the AIIB announced on its website.

The AIIB Board of Governors has approved membership applications of six more countries, bringing AIIB’s total approved membership to 93. The new group of approved members comprises Algeria, Ghana, Libya, Morocco, Serbia and Togo.

The six prospective members will officially join AIIB once they complete the required domestic processes and deposit the first capital installment with the Bank. Shares allocated to the new prospective members come from AIIB’s existing pool of unallocated shares, the Beijing-based bank says in its press release.

– Within three years AIIB’s membership has increased from the 57 founders to 93 approved members from almost every continent. This shows the commitment of our members to multilateral cooperation and strengthens AIIB’s role in the international financial community – said AIIB Vice President and Corporate Secretary Danny Alexander.

The growing membership of the Bank in Europe and Africa, he added, also reflects the importance for growth and development of inter-regional connectivity, especially sustainable infrastructure that opens access to new markets in Asia and beyond.

AIIB’s charter was signed by 57 countries before the Bank was launched in January 2016.

AIIB Kina

Asian Infrastructure Investment Bank

Danny Alexander

infrastructure

investments in infrastructure