AIIB approves 3 new members at 2nd annual meeting

BY  | FROM  | 2017-06-16 16:01

The China-initiated Asian Infrastructure Investment Bank (AIIB) on Friday approved three more countries as its new members at its second annual meeting of governors.

Argentina, the Republic of Madagascar and the Kingdom of Tonga were accepted as AIIB's new members.

The decision was made during the business session of the AIIB's board of governors, the bank's major decision-making body.

The second annual meeting of AIIB governors kicked off early Friday in South Korea's southern resort island of Jeju. The first meeting was held in Beijing last year.

Officially launched in January 2016, the Beijing-based AIIB is a multilateral development bank initiated by China and supported by a wide range of countries and regions, which will provide financing for infrastructure improvement in Asia.

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