ZCZC
BCN-45
AIIB-MEMBERSHIP-LEBANON
Lebanon’s membership application approved at AIIB meeting
MUMBAI, June 27, 2018 (BSS/Xinhua) – The Asian Infrastructure Investment
Bank’s (AIIB) Board of Governors has approved a new membership application
from the Republic of Lebanon, bringing AIIB’s total approved membership to
87, the bank said on its website on Tuesday.
“We’re pleased to welcome Lebanon as a prospective member,” said AIIB Vice
President and Corporate Secretary Sir Danny Alexander. “It is an important
and historic commercial hub in the Middle East and we look forward to Lebanon
playing an active role within AIIB.”
Lebanon will officially join AIIB as a regional member once it completes
the required domestic processes and deposits the first capital installment
with the bank. The shares allocated to the new prospective member come from
AIIB’s existing pool of unallocated shares.
At its launch in January 2016, there were 57 signatories to AIIB’s
Articles of Agreement. In 2017, AIIB announced the approval of another 27
prospective members. In May 2018, AIIB announced the approval of another two
prospective members. AIIB expects to continue welcoming new members in the
future.
The third annual meeting of AIIB kicked off in here in Mumbai on Monday
with the theme “Mobilizing Finance for Infrastructure: Innovation and
Collaboration.”
BSS/XINHUA/HR/1455