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Turkey becomes founder of large Asian bank

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Date: 13 January 2016 10:27

Baku, Azerbaijan, Jan. 12

By Rufiz Hafizoglu – Trend:

Turkish President Recep Tayyip Erdogan has approved the country’s joining the founders of the Asia Infrastructure Investment Bank (AIIB) led by China, the Turkish presidential administration said Jan. 12.

It was reported in April 2015 that Turkey will join the AIIB countries-founding members led by China.

Thus, the number of the AIIB countries-founding members reached 38.

France, Germany and Italy agreed to follow the example of Great Britain March 17, 2015 and join AIIB led by China.

This decision was taken after Great Britain announced its intention to join the AIIB countries-founding members.

AIIB is considered a potential rival of the World Bank (WB). The headquarters of the bank is in Washington.

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