The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved a new membership application from the Republic of Lebanon, bringing AIIB’s total approved membership to 87.
"We’re pleased to welcome Lebanon as a prospective member," said AIIB Vice President and Corporate Secretary Sir Danny Alexander. "It is an important and historic commercial hub in the Middle East and we look forward to Lebanon playing an active role within AIIB."
Lebanon will officially join AIIB as a regional member once it completes the required domestic processes and deposits the first capital installment with the bank. The shares allocated to the new prospective member come from AIIB’s existing pool of unallocated shares.
At its launch in January 2016, there were 57 signatories to AIIB’s Articles of Agreement. In 2017, AIIB announced the approval of another 27 prospective members. In May 2018, AIIB announced the approval of another two prospective members. AIIB expects to continue welcoming new members in the future.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Headquartered in Beijing, we commenced operations in January 2016 and have now grown to 87 approved members from around the world. By investing in sustainable infrastructure and other productive sectors today, we will better connect people, services and markets that over time will impact the lives of billions and build a better future.
For an updated list of AIIB members, please visit: www.aiib.org/en/about-aiib/governance/members-of-bank/index.html
