Russia, Australia, Holland commit to AIIB
Print Edition
RUSSIA, Australia and the Netherlands yesterday became the latest countries to announce their commitment to the China-led Asian Infrastructure Investment Bank.
While the AIIB, seen by some as a challenge to the World Bank and Asian Development Bank, has drawn a cool response from the United States, its European allies, including Britain, France, Germany and Italy, have already said they will join.
Turkey, South Korea and Brazil also have announced their support.
On Friday, the office of Brazilian President Dilma Rousseff said in a statement that the South American country “is very interested in participating in this initiative.”
Russia made known its intent yesterday at the Boao Forum for Asia, which is ongoing in south China’s Hainan Province.
“I’d like to inform you that Russian President Vladimir Putin has taken the decision that Russia will participate in the capital of the Asian Infrastructure Investment Bank,” First Deputy Prime Minister Igor Shuvalov was quoted as saying by state news agency RIA Novosti.
Speaking at the same forum, Australian Finance Minister Mathias Cormann said his country also was planning to apply to become a founding member.
Dutch Prime Minister Mark Rutte announced the Netherlands’ intention to join the AIIB on his official Facebook page following a meeting with Chinese President Xi Jinping.
China’s Finance Ministry said earlier yesterday that Britain and Switzerland have now been formally accepted as founding members of the bank, while Austria has submitted its application.
The AIIB, plans for which were unveiled in October, is a multinational lender that the United States perceives as a threat to the Washington-led World Bank. Its initial capital is expected to be US$50 billion.
Speaking at the Boao Forum, Xi said China should “strengthen pragmatic cooperation in monetary stability, investment, financing, credit rating and other fields.”
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