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Asian Investment Bank approves Morocco’s membership

The Asian Infrastructure Investment Bank (AIIB) has announced the approval of applications from six new countries including Morocco, bringing to 93 the total number of approved members.

“Over the past three years, the membership of AIIB has grown from 57 founders to 93 approved members from almost every continent, showing the commitment of our members to multilateral cooperation and strengthening the role of AIIB in the international financial community, “said Sir Danny Alexander, Vice President and Corporate Secretary of the AIIB.

He also noted that the accession of new members of the Bank in Europe and Africa also reflects the importance of the development of interregional communication, led by the banking group, especially with regard to the establishment of sustainable infrastructure that promote access to new markets in Asia and elsewhere.

The six prospective members (Morocco, Algeria, Libya, Ghana, Serbia and Togo) will officially join the AIIB once they have completed the required national processes and made the first payment of capital to the bank…The shares allocated to potential new members will come from the existing reserve of unallocated shares of the bank.

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