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Hungary joins AIIB

Hungary joins AIIB

Budapest, March 23 (MTI) – The board of governors of the Asian Infrastructure Investment Bank (AIIB) adopted a resolution approving Hungary’s application to join the bank, AIIB said on Thursday.

Hungary was among 13 applicants approved in resolutions adopted by the board. The other approved applicants include the regional prospective members Afghanistan, Armenia, Fiji, Hong Kong and Timor Leste, and the non-regional prospective members Belgium, Canada, Ethiopia, Ireland, Peru, the Republic of Sudan and Venezuela.

The board’s decisions mark the first time AIIB has welcomed new prospective members to the bank since its inception. Approved membership now stands at 70.

AIIB started operating a little more than a year ago “to bring countries together to address the daunting infrastructure needs across Asia”, according to the lender.

Source: MTI

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