SHARM EL SHEIKH, Egypt, Sept. 26, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) now has 109 Members after its Board of Governors today approved the applications of three economies. The milestone was reached with the addition of El Salvador, Solomon Islands and Tanzania during the Bank's eighth Annual Meeting in Sharm El Sheikh, Egypt.
AIIB Members collectively account for 81 percent of the world's population and 65 percent of global gross domestic product. "AIIB has a track record of successful collaborations with our Members. The addition of El Salvador, Solomon Islands and Tanzania strengthens the AIIB community and supports our collective mission to finance Infrastructure for Tomorrow," said AIIB President and Chair of the Board of Directors Jin Liqun. "Together, we will work on priority projects within our clearly defined thematic priorities to drive long-term sustainable growth."
The three prospective members will officially join AIIB once they complete the required domestic processes and deposit the first capital installment with the Bank.
"Our journey began with 57 founding members," said AIIB Vice President and Corporate Secretary Ludger Schuknecht. "That we have been able to grow our membership to 109 in the past eight years shows that many believe in our mission to achieve sustainable infrastructure development and economic growth as well as our commitment to actively support infrastructure projects that contribute to climate change mitigation, adaptation and resilience."
AIIB's Board of Governors approved the resolution welcoming the three prospective Members during the Bank's eighth Annual Meeting in Sharm El Sheikh, Egypt.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
