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AIIB approves membership of Papua New Guinea and Kenya

Staff Writer |
The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has adopted resolutions approving two applicants to join the Bank, bringing AIIB’s total approved membership to 86.


"We’re very happy to welcome Papua New Guinea and Kenya as prospective members of AIIB," said AIIB Vice President and Corporate Secretary Sir Danny Alexander.

"AIIB now has 86 approved members from six continents. This shows a strong commitment to promoting infrastructure development through rules-based multilateral cooperation with high standards of governance."

The two prospective members will officially join AIIB once they complete the required domestic processes and deposit the first installment of capital with the Bank. The shares allocated to the new prospective members come from AIIB’s existing pool of unallocated shares.


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