Armenia, 12 other countries join China-led AIIBMarch 23, 2017 - 11:30 AMT PanARMENIAN.Net - Armenia and 12 other countries have joined the China-backed Asian Infrastructure Investment Bank (AIIB), AIIB said on Thursday, March 23, bringing its total membership to 70, Reuters reports. 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 - Armenia, Hong Kong, Afghanistan, Fiji and Timor Leste. The multilateral institution, seen as a rival to the Western-dominated World Bank and Asian Development Bank, was initially opposed by the United States but attracted many U.S. allies including Britain, Germany, Australia and South Korea as founding members. Canada applied to join the AIIB last year. "I am very proud that AIIB now has members from almost every continent," said AIIB President Jin Liqun. "We anticipate further applications being considered by our Board of Governors later this year." Photo. Reuters Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |