This was reported on Thursday, April 2, by the Chinese news portal Sohu.
By the evening of April 1, 31 states have already been approved as candidates to become the co-founders of the bank. By April 15, the documents of 20 more states should be reviewed, including Russia, France, Italy, Austria, Turkey, Australia, the Republic of Korea, the Netherlands, Brazil, Georgia, Denmark, Egypt, Kyrgyzstan, Sweden, Finland, Norway, Iceland, Spain, Portugal and Israel.
In addition, Taiwan, which used the name “Chinese Taipei”, also submitted an application for entry in this new international financial institution. As stated on Tuesday by the Chinese Foreign Ministry Spokesperson Hua Chunying, Taiwan’s application will be reviewed in the context of the principle of “one country – two systems”. This particular case should be reviewed by the Chinese Office of the State Council that has authority in this island territory.
Beijing lost control over this island in 1949, but the international community continues to regard it as an integral part of the Chinese territory. For this reason, the unrecognized republic is not a member of the UN, and cannot fully participate in the operation of such organizations as the World Bank or the International Monetary Fund. At the same time, some international organizations, including APEC, allowed the island to get the status of the participant by using a politically neutral name “Chinese Taipei”.
The fact that Russia has decided to apply for AIIB membership was announced on March 28 by the First Deputy Prime Minister Igor Shuvalov.
Established by Chinese initiative, the Asian Bank of Infrastructure Investments was founded in 2014, and its objective is to finance infrastructure projects in the Asia-Pacific Region (APR). The authorized share capital of the financial institution will amount to $ 100 billion, while the original capital stock will be $ 50 billion. The headquarters of the bank, which must be formed by the end of 2015, will be located in Beijing.
Previously, it was suggested that the AIIB members will become a competitor to the International Monetary Fund and the World Bank, which are dominated by the US and Japan. At the same time, the head of the IMF, Christine Lagarde stressed that the fund has a space for cooperation with the bank being created by China.