AIIB membership: The 57-strong Asian Infrastructure Investment Bank (AIIB) will have almost 100 member countries and regions by the end of the year, its president Jin Liqun told editors at the Asia News Network’s annual board meeting in Beijing this week. “Up to 30 countries are waiting to join the AIIB and about 20 of them have expressed firm commitment,” he said.
The AIIB President also confirmed that the first batch of projects that it intends to back were to to be unveiled at the bank’s third board meeting on June 25 including those it is co-financing with the World Bank. It is also planning to expand its funding for projects in non-Asian countries soon, in particular those with strong economic ties with Asia.”It is gratifying to see that geographically it covers a broad area,” he said.
In total it expects to approve around $1.2bn in financing by the year end, with priority being given to investment infrastructure, energy, transportation, urban construction, water supply and logistics as well as education, healthcare and environmental projects.