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Romania hails AIIB accession, expecting to promote ties with Asia

Staff Writer |
Romania hailed the country's accession to the Asian Infrastructure Investment Bank (AIIB), expecting more economic cooperation with Asian partners, the Foreign Ministry said.

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"The decision by the AIIB's board recognizes Romania's capability of taking part in the promotion of the bank's objectives related to support for infrastructure and economic development projects," stressed the ministry after Romania became an AIIB member under a decision by the bank's Board of Governors made on Saturday.

AIIB expanded membership to 77 and the accession underscores Romania's relevance amidst the current efforts by European and Asian countries to strengthen connectivity between the two continents, to which AIIB is attaching special importance, said the ministry underlining the decision to join AIIB is a special component of Romania's demarches in favor of promoting ties with Asian countries, which is an objective in the programme of the incumbent government.

The ministry believed that the decision would provide Romania and its companies an opportunity to get access to AIIB financial mechanisms in order to diversify cooperation with Asian partners in areas such as energy, urban development, transportation, information technology and agriculture.

AIIB announced Saturday to accept seven new members, Romania, Bahrain, Bolivia, Chile, Cyprus, Greece and Samoa, in the multilateral development bank founded in 2016.

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