(Communicated by the MFA Spokesperson)
The Secretariat of the new Asian Infrastructure Investment Bank (AIIB) issued an official announcement today (Wednesday 15 April 2015) confirming Israel as the Bank's 52nd founding member.
The Chinese initiative to establish the multi-national financial institution is intended to finance infrastructure development projects in Asian countries - including wide-ranging regional development.
It is projected that the establishment process will be completed towards the end of 2015.
The confirmation of Israel’s application to join the Bank is a result of extensive diplomatic activity by the Israeli Embassy in Beijing in cooperation with the Ministries of Foreign Affairs and Finance in Jerusalem.
With this important development, Israel joins a new international economic forum in an important arena of dynamic economic growth.
Israel's membership will open broad new fields of opportunity enabling the integration of Israeli companies in projects funded by the Bank.
Israel will participate in the upcoming round of negotiations conerning the establishment of the Bank, which will be held later this month in Beijing.