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Liberia becomes latest African member of Asian infrastructure bank

Posted by Staff Writer on July 31, 2020 in Latest News | Views

By Ventures Africa

The Asian Infrastructure Investment Bank’s Board of Governors this week approved the application of Liberia to join the Bank. This takes the number of the institution’s African members to 10, with an additional 9 prospective members.

“The growth of our membership from Africa demonstrates the understanding that multilateralism has the potential to address extraordinary challenges and that through cooperation and partnership, we can create a more sustainable future,” AIIB President Jin Liqun said. Prospective members, including Liberia, will officially join AIIB once they complete the required membership procedures and deposit the first capital installment with the Bank.

The bank’s approved African members are responsible for over 60 percent of the continent’s gross domestic product and represent over 46 percent of Africa’s population, AIIB said in a statement on its website.

Read the statement in full here.

The post Liberia becomes latest African member of Asian infrastructure bank appeared first on Ventures Africa.

Click here to read entire article

Source:: Ventures Africa

      

Posted in Latest News | Tagged african, apps, benin, cameroon, chad, eritrea, Ethiopia, ghana, latest, mozambique, news, niger, nigeria, senegal, somaolia, south africa, technology, togo, uganda

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