Azerbaijan joins AIIB as seven more countries sign up

Azerbaijan joins AIIB: China’s Ministry of Finance today announced that a further seven countries including Azerbaijan were to become founding members of the Asian Infrastructure Investment Bank, taking the total of prospective members up to 57. The other states mentioned in today’s announcement were Sweden, Israel, South Africa, Iceland, Portugal and Poland. As it name suggests,  the AIIB is being set up to finance the construction of roads, bridges and other  infrastructure projects and will have a start-up capital of $50bn. 

Source: Azernews