Asian Infrastructure Investment Bank approves Libya's membership

Alwasat - Cairo Wed 26 Dec 2018, 10:57 PM
alwasat radio

The Asian Infrastructure Investment Bank (AIIB) has announced the approval of applications from six new countries including Libya, bringing the total number of approved members to 93.

Libya joins the bank, based in Beijing, formally with five prospective members (Morocco, Algeria, Ghana, Serbia and Togo) as soon as the required domestic operations are completed and the first financial installment is deposited in the financial institution.

“Over the past three years, the membership of AIIB has grown from 57 founders to 93 approved members from almost every continent, showing the commitment of our members to multilateral cooperation and strengthening the role of AIIB in the international financial community, “said Danny Alexander, Vice President and Corporate Secretary of the AIIB.

He also noted that the accession of new members of the Bank in Europe and Africa also reflects the importance of the development of interregional communication, led by the banking group, especially with regard to the establishment of sustainable infrastructure that promote access to new markets in Asia and elsewhere.

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