The Chinese Ministry of Finance announced on Saturday that the United Kingdom and Switzerland had been officially accepted as a founding member of the Asian Investment Bank for infrastructure (AIIB).
of Concurrent World Bank and ADB
The United States do not see as a good thing the AIIB, set up by China. It is indeed considered a contender for the World Bank, based in Washington, born of the Bretton Woods agreements as well as the Asian Development Bank (ADB), dominated by the United States and Japan. Americans in particular are concerned that governance standards are insufficient social or ecological matters.
30 founding countries
Brazil, China’s largest trading partner, said Friday that he agreed to take part. According to the Ministry of Finance, Austria has also asked to participate, bringing to 30 the number of the founding countries.
“ We need to move towards the creation of a platform in regional financial cooperation ‘, said Saturday Chinese Vice President Xi Jinping at a forum in Boao in Hainan Island in southern China.
The deadline to submit an application is 31 March and the bank should be in place by the end of the year with an initial capital of $ 50 billion.
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