Off the wire
• China, EAEU pledge to further cooperation  • 2nd LD-Writethru: Wanted economic fugitive returned to China  • Syria slams U.S. bid to train Syrian rebels  • Feature: Bulgarians celebrate World War II victory  • Slovenia marks WWII Victory Day  • European flag flown from Strasbourg cathedral for first time to celebrate Europe Day  • Israeli soldiers wounds 3 Palestinian farmers in southern Gaza  • Chinese Super League soccer standings  • 5 arrested for smuggling rare earths in E China  • Feature: Russia marks 70th anniversary of anti-fascist victory with grand parade  
You are here: 　 Home

Jordan officially joins China-proposed AIIB

Xinhua, May 9, 2015 Adjust font size:

Jordan announced on Saturday that it has become a founding member of the China-led Asian Infrastructure Investment Bank (AIIB), state-run Petra news agency reported.

The decision to join the new bank was prompted by the Kingdom's belief in the need to support development projects in developing countries, Jordan's Minister of Planning and International Cooperation Imad Fakhoury was quoted as saying.

The minister said the AIIB is a modern knowledge-based institution which focuses on the development of infrastructure and other productive sectors in Asia.

The bank will seek to enhance social and economic development and meet the needs of the region to advance its infrastructure and improve its ability to face financial crises and external challenges by boosting cooperation and integration among the region's countries.

A total of 57 countries have applied to be founding members of the Beijing-backed financial institution, including major powers such as Britain, Germany, South Korea and Russia, according to China's Finance Ministry.

The bank was proposed by China in 2013 and launched at a ceremony in Beijing in October 2014.

The Articles of Agreement (AOA) would be finalized and open for signature by member states in June 2015. The AOA is expected to come into force and AIIB to be fully established by the end of 2015. Endit