[75], Japan – "Under Consideration" / No commitment, The Authorized Capital Stock of the bank is 100 billion US Dollars, divided into 1 million shares of 100 000 dollars each. "[35] In March 2015, the South Korean Ministry of Strategy and Finance announced that it, too, is planning to join the AIIB, citing its potential in helping South Korean companies win deals in infrastructural projects as well expanding South Korea's influence in international banking as a founding member. [19] But until March 2015, China in the ADB has only 5.47 percent voting right, while Japan and US have a combined 26 percent voting right (13 percent each) with a share in subscribed capital of 15.7 percent and 15.6 percent, respectively. […] China's foreign cooperation opportunities are expanding. The United States' officials have expressed concerns about whether the AIIB would have high standards of governance, and whether it would have environmental and social safeguards.
The Czech Republic,[72] Nigeria, Iraq,[73] Colombia,[74] Ukraine are considering joining the AIIB as members. As of 16 May 2020, the total number of countries approved for membership of AIIB is 103 (Regional Members: 45, Non-Regional Members: 37, Prospective Members: 21).

Japan, Australia and South Korea have not joined the AIIB and the US has expressed reservations over its transparency. Beijing, China, Sep. 11, 2020. Headquartered in Beijing, we began operations in January 2016 and have now grown to 103 approved members worldwide. [34] German Finance Minister Wolfgang Schäuble stated, "We want to contribute our long-standing experience with international financial institutions to the creation of the new bank by setting high standards and helping the bank to get a high international reputation. READ MORE. [102], During 2016, AIIB committed a total of $1.73 billion to nine projects, among which six projects are joint initiatives with other international lenders such as the World Bank and the Asian Development Bank. All rights reserved. [16][17], The Asian Development Bank Institute published a report in 2010 which said that the region requires $8 trillion to be invested from 2010 to 2020 in infrastructure for the region to continue economic development. In March 2017, 13 other states were granted prospective membership: 5 regional (Afghanistan, Armenia, Fiji, Timor Leste and Hong Kong, China) and 8 non-regional: Belgium, Canada, Ethiopia, Hungary, Ireland, Peru, Sudan and Venezuela. If you're not sure how to activate it, please refer to this site. The AIIB has 49 non-regional actual or prospective members, including 17 from Africa and 7 from South America. We believe any new multilateral institution should incorporate the high standards of the World Bank and the regional development banks. The Czech Republic,[72] Nigeria, Iraq,[73] Colombia,[74] Ukraine are considering joining the AIIB as members.

The Japanese Government Spokesman also announced that Japan would not join the AIIB. Jin Liqun was elected as the bank's president for a five-year term. Mexico, Japan and the United States have no immediate intention to participate. By encouraging Chinese investments in the next generations of nuclear power plants, Osborne announced that "the City of London would become the base for the first clearing house for the yuan outside Asia."[32]. [2], Three categories of votes exist: basic votes, share votes and Founding Member votes. "[31] In response, the UK indicated that the subject had been discussed between Chancellor Osborne and US Treasury Secretary Jack Lew for several months preceding the decision. In early March 2015, the United Kingdom's Chancellor of the Exchequer, George Osborne, announced that the UK had decided to apply to join the Bank, becoming the third Western country to do so after Luxembourg and New Zealand. On 25 December 2015, the Articles of Agreement entered into force. "[16][40], The Articles of Agreement form the legal basis for the Bank. In May 2017, 7 states were granted prospective membership: 3 regional (Bahrain, Cyprus, Samoa) and 4 non-regional (Bolivia, Chile, Greece, Romania). Infrastructure as regional integration and foreign policy tool, Geopolitical implication in Asia-Pacific and beyond, Signatories of the Memorandum of Understanding, infrastructure-driven economic development, International Bank for Reconstruction and Development, "Members and Prospective Members of the Bank", "Jin Liqun Selected President-designate of the Asian Infrastructure Investment Bank", "Asian Infrastructure Investment Bank – Articles of Agreement", "World Economic Situation and Prospects 2015", "China says new bank to complement existing institutions", "Three major nations absent as China launches World Bank rival in Asia", "AIIB looks to attract private financing for projects", "The growing membership of a China-led development bank challenges the IMF-World Bank orthodoxy", "The Asian Infrastructure Investment Bank: Multilateralism on the Silk Road", "An Asian infrastructure bank: Only connect", "Why Australia should join the Asian Infrastructure Investment Bank", "China's AIIB, America's Pivot to Asia & the Geopolitics of Infrastructure Investments", "ChinaBoao Forum China eyes closer Asia's economic integration through Asian infrastructure bank", "Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010–2020", "In Development Bank Battle, Surge to China Rattles Japan", "China expands plans for World Bank rival", "China invites India to join Asian Infrastructure Investment Bank", "China, 20 other countries initiate new Asian bank", "Indonesia becomes 22nd founding member of AIIB", "China launches AIIB in Asia to counter World bank", "Australia decides to join China-proposed AIIB", "Asian Infrastructure Investment Bank: Australia to sign Memorandum of Understanding to join China development fund", "S. Korea decides to join China-proposed AIIB", "UK announces plans to join Asian Infrastructure Investment Bank", "Europeans defy US to join China-led developme", "US Anger at Britain Joining Chinese-led Investment Bank AIIB", "Washington rebukes Britain's decision to join China-backed Asian infrastructure bank", "UK move to join China-led bank a surprise even to Beijing", "Germany, France, Italy to Join China-Backed Development Bank", "South Korea Plans to Join Regional Development Bank Led by China", "Articles of Agreement of the Asian Infrastructure Investment Bank", "Country Risk: Asia Trading Places with the West", "Forecasting the Future: The BRICs and the China Model", "Xi Jinping Holds Talks with Representatives of Chinese and Foreign Entrepreneurs Attending BFA Annual Conference", "Signing and Ratification status of the AOA of the AIIB", "AIIB Approves Membership of Argentina, Madagascar and Tonga // The Bank's approved membership rises to 80", "AIIB Approves Membership of Algeria, Ghana, Libya, Morocco, Serbia, Togo", "AIIB Approves Membership of Côte d'Ivoire, Guinea, Tunisia, and Uruguay", "Spain, ROK, Austria join AIIB as founding members", "AIIB membership means opportunity for Iceland: official", "Georgia, Denmark, Brazil, Netherlands, Finland Join China's AIIB Bank", "Egypt, Norway, Russia approved as AIIB founders", "Italy, France approved as AIIB founding members", "Germany becomes AIIB prospective founding member", "Malta, Kyrgyzstan join AIIB as founding members", "Luxembourg becomes AIIB's prospective founding member", "Malaysia's Ambassador to China signed the Articles of Agreement of the Asian Infrastructure Investment Bank", "Asian Infrastructure Development Bank to be operational by year-end", "New Zealand becomes 24th founding member of AIIB", "NZ formally joins Asian Infrastructure Investment Bank", "Russia officially joins $50bn China-led infrastructure bank", "Saudi Arabia, Tajikistan to join Beijing-backed development bank", "U.K. and Switzerland follow Brazil to China-backed Asia investment bank", "UAE joins AIIB as prospective founding member", "Číňané do Asijské rozvojové banky přibrali 57 zemí. The Articles of Agreement, the legal framework of the bank, were concluded in the fifth CNM. Japan would consider joining China-led AIIB if doubts are dispelled, Abe says. The Asian Infrastructure Investment Bank can be construed as a natural inter-national extension of the infrastructure-driven economic development framework that has sustained the rapid economic growth of China since the adoption of the Chinese economic reform under chairman Deng Xiaoping.

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