‘Good chance’ for ROC ordinary AIIB entry: Finance Ministry
Taiwan has an “exceptionally good” chance of gaining entry into the Asian Infrastructure Investment Bank (AIIB, ) as an ordinary member, according to the Ministry of Finance (MOF, ).
The assessment comes in the wake of Beijing’s rejection of Taiwan as a founding member of the AIIB, a China-led multilateral funding body set to begin operations by year’s end.
Ma Xiaoguang ( ), of China’s Taiwan Affairs Office, said Beijing may welcome Taiwan’s participation in the AIIB later “in a proper capacity.”
In a statement released yesterday, the Finance Ministry said Taiwan has an “exceptionally good” chance at ordinary membership, which comes with key rights.
The difference between founding and ordinary members of the AIIB is that the former can set the rules and regulations, the ministry said. But in accordance with international practices, the obligations and rights of all members are the same, and all members can have the right to vote.
Therefore, even without holding status as a founding member, Tai- wan representatives can still sit on the AIIB’s board of directors and gain the right to vote, the ministry continued.
US$200 Million in Voting Power
According to the MOF, each member in the nascent financial organization will have voting power in proportion to the member’s capital investment.
If the AIIB raises its registered capital from US$ 50 billion to US$100 billion, as reports have signaled, Taiwan may contribute up to US$200 million upfront, according to Premier Mao Chi-kuo ( ).
Therefore, upon entry, Taiwan’s representatives may sit on the AIIB’s board of directors and gain the right to vote, according to the Finance Ministry.
Full Report on Thursday
Also yesterday, the Finance Ministry said it will release a comprehensive assessment on potential benefits and prospects of Taiwan’s bid to become an ordinary member of the AIIB.
Finance Minister Chang Shengford ( ), Financial Supervisory Commission ( ) Chairman William Tseng ( ) and Central Bank of the Republic of China Gov. Perng Fai-nan ( ) are scheduled to report tomorrow to the Finance Committee ( ) of the Legislative Yuan. The AIIB is a Beijing-led body that aspires to fund roads, airports and other infrastructure projects in the Asia-Pacific region, starting this year.
So far, the institution has rejected Taiwan’s bid but approved founding membership for many of the world’s major economies, including Australia, the UK, Spain and South Korea.
The full list of founding members will be finalized on April 15.