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Doors open for US, Japan for bank membership: AIIB President

Till now, AIIB have 80 members along with recent addition of Argentina, Madagascar, Tonga

IANS  |  Seoul 

The logo of Asian Infrastructure Investment Bank is seen at its headquarter building in Beijing. Photo: Reuters
The logo of Asian Infrastructure Investment Bank is seen at its headquarter building in Beijing. Photo: Reuters

The President of the (AIIB) said on Saturday that the organisation is keeping the door open for the and Japan, two of the world's leading economies who are not yet part of the body.

made the remark when asked about the two countries' notable absence at a press conference following the end of the second annual meeting in South Korea's Jeju island, reports Efe news.

"I am pleased to announce that we already have 80 members in the This demonstrates confidence in the governance and management of the institution," said Jin, alluding to the decision to include Argentina, Madagascar and Tonga as new member states.

"This also indicates the commitment of all members to work together, to improve living conditions of their citizens and to maintain sustainable economic growth while facing environmental challenges," he added.

The new members are awaiting the completion of the entry process which includes the deposit of their first instalment of capital with the bank.

The Jeju meeting was attended by 77 current member states of the and about 2,000 entrepreneurs from around the world.

It included a dozen seminars where different areas of investment were discussed.

Other members include the UK, France, Germany, Spain, Russia, Italy and South Korea, and its second annual meeting was held primarily on the theme of sustainable infrastructure.

The Jeju meeting sought to set the course for AIIB, a body established in 2014 at the behest of Beijing and considered an alternative to the Monetary Fund and the World Bank, which are dominated by the and the controlled by

First Published: Sat, June 17 2017. 16:40 IST
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