AIIB set to have 85 members

BEIJING: China-backed Asian Infrastructure Investment Bank (AIIB) expects to have 85 members by year-end, said its president Jin Liqun yesterday.

“Now we have 77 members. By year-end, we expect to have about 85 members, including Hong Kong SAR,” said Jin at the Belt and Road Forum.

On Saturday, AIIB said its board of governors had adopted resolutions approving seven applicants to join the bank, bringing its total approved membership to 77.

The seven prospective members — Bahrain, Cyprus, Samoa, Bolivia, Chile, Greece and Romania — will officially join AIIB once they deposit their first instalment of capital with the bank. Reuters