“I would like to inform you about the decision to participate in the AIIB,” which was made by Russian President Vladimir Putin, Shuvalov said at the Boao Forum for Asia.
READ MORE: Switzerland, Luxembourg apply for China-led infrastructure bank
The AIIB has been approached by over 25 prospective founding members, with the UK, France, Germany, Italy, Luxembourg, and Switzerland recently applying. The application deadline has been set for March 31.
Other nations will still be able to join the AIIB after the deadline expires, but only as common members, Chinese Finance Minister Lou Jiwei said last week.
China wants to see the AIIB operational before the end of 2015.
Austria was one of the latest countries to look into joining the AIIB, Xinhua news agency reported.
Washington recently shifted its tone towards the AIIB, which is seen as a rival of the US-led World Bank, the International Monetary Fund (IMF), and the Manila-based Asian Development Bank (ADB) which is dominated by Japan and the US.
READ MORE: Washington ‘shifts tone’ towards China-led infrastructure bank
The China-led infrastructure bank is expected to launch with an initial subscribed capital of $50 billion and focus on financing infrastructure projects across Asia – including energy, transport and telecommunications infrastructure, urban and rural development, and the environment.
DETAILS TO FOLLOW
No comments :
Post a Comment