The Asian Infrastructure Investment Bank (AIIB)’s Board of Governors has approved the application of Iraq to join the Bank. Iraq becomes AIIB’s 51st regional member, bringing the Bank’s approved membership to 105 in total.
As a multilateral development bank with the mission of financing infrastructure for tomorrow, AIIB aims to support its members achieve their development goals and is committed to working together with them to support their transition to a more resilient and inclusive economy and help them achieve long-term green sustainable development through innovative financing tools and public-private partnerships.
Prospective members, including Iraq, will officially join AIIB once they complete the required membership procedures and deposit the first capital installment with the Bank. The shares allocated to the new prospective members come from the Bank’s existing pool of unallocated shares.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 105 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.