Belarus has joined the Asian Infrastructure Investment Bank

Photo: belta.by

Belarus has joined the Asian Infrastructure Investment Bank, meeting all the conditions of the resolution of the AIIB Board of Governors, BelTA quotes the Belarusian Finance Ministry. Belarus’ accession to the AIIB opens new opportunities in infrastructure financing.

“The Bank’s resources can be used to develop the Belt and Road initiative, of which Belarus is part, to set up new transport corridors and upgrade the current ones, to modernize energy and city infrastructure, and to implement industrial logistic projects. Co-financing of projects in partnership with other international financial organization can be another area of application of the AIIB financial resources,” the Finance Ministry said.

The Asian Infrastructure Investment Bank (AIIB) was established upon China's initiative in 2016. The bank has been established to pool resources of various countries for the sake of accomplishing complex infrastructure goals in Asia and beyond. The bank is headquartered in Beijing.