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U.S. insists on more details on Asian infrastructure bank

Xinhua, March 13, 2015 Adjust font size:

The United States on Thursday insisted on more details about the China-proposed Asian Infrastructure Investment Bank (AIIB), despite Britain's application to join it as a founding member.

"Obviously individual countries make their own decisions," said State Department spokeswoman Jennifer Psaki in her comment on the move of Washington's close ally.

"We have expressed a desire to see an increased level of transparency and more details on how the Asia infrastructure bank would work," she told reporters at a daily news briefing, adding " Beyond that, I don't have any particular comment."

Britain on Thursday applied to join the AIIB and China is seeking the opinions of other founding countries, the Chinese Ministry of Finance said.

The ministry expects Britain to formally become a prospective founding member by the end of March, if all goes well.

Lou Jiwei, China's minister of finance, said on March 6 that 27 countries had applied to jointly build the bank as founding members. The application deadline is on March 31.

The proposed bank, an international financial institution that will provide support to infrastructure projects in Asia, is expected to be formally established by the end of this year. Endite