Ethiopia Joins Asian Infrastructure Investment Bank GroupMarch 23, 2017 - The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) approved membership of Ethiopia and other 12 applicants to join the Bank, according to ENA. The announcement would bring the total membership of the bank to 70, the website of AIIB indicated. The 13 prospective members will officially join AIIB once they complete the required domestic processes and deposit the first installment of capital with the bank, it was learned. The shares allocated to the new prospective members come from the bank’s existing pool of unallocated shares. At its launch in January 2015, the Asian Infrastructure Investment Bank had 57 signatories to AIIB’s Articles of Agreement.

Source: Ethiopian News March 24, 2017 02:26 UTC