The Asian Investment Bank for Infrastructure (AIIB), based in China, plans to strengthen its intervention in Africa. According to the president of the institution, Jin Liqun, disbursements have already reached 4 billion, divided into 24 funded projects and that the expansion of the bank is under discussion.
“We must pay attention to the support of African member countries. Asia is growing rapidly, but it can not sustain itself without working closely with African countries, “he said.
The bank’s intervention focused on Asia during the first two years of operation, with the exception of some investments in Egypt and Oman.
China is the main shareholder of the bank, with more than 26% of the capital, but the other main shareholders are Russia with about 6%, the regional members holding nearly 76% of the total capital. Its mission is to invest in projects related to the development of Asia, which also include investments from outside the continent to promote economic growth in Asia.
These projects include ports and railways in Africa that improve trade-related infrastructure with Asia.
In the first nine months of 2017, the Bank has approved 23 new membership applications. At 30 September 2017, the total number of members approved by the Bank is 80, of which 56 have completed the membership process and become members of the Bank. Egypt and Ethiopia are listed as non-regional members.
