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China-led AIIB approves 13 new members, Canada joins

Reuters Published on Thu, Mar 23, 2017 / 4:10 PM GMT+8

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SINGAPORE (March 23): The China-backed Asian Infrastructure Investment Bank (AIIB) said on Thursday it has approved 13 new applicants to join the bank, including Canada, a major ally of the United States, bringing its total membership to 70.

This is the first time AIIB has welcomed new members to the bank since it inception, the multilateral financial institution said in a statement on its website.

The approved applicants include eight non-Asian countries - Canada, Belgium, Ethiopia, Hungary, Ireland, Peru, Republic of Sudan and Venezuela - and five regional members - Hong Kong, Afghanistan, Armenia, Fiji and Timor Leste.