Turkey plans to join China-led Asian infrastructure bank: Treasury

ANKARA

Turkey intends to become a member of the China-led Asian Infrastructure and Investment Bank (AIIB), the Treasury said on March 26 by a written statement.

“Turkey has informed the Interim Secretariat of AIIB regarding its intention to become a member of the AIIB on March 25th, 2015. It is expected to finalize the negotiations to establish the Bank in the end 2015,” the statement said.

China has initiated efforts to establish the AIIB since October 2014 with the aim of providing finance to infrastructure investments in the Asian region. At least 35 countries will join the China-led AIIB by the deadline of March 31.

India, Indonesia and New Zealand have also expressed interest in joining the bank, following a request by Britain, France, Italy and Luxembourg to become founding members.

Since then, several countries from Asia and Europe have declared their intention to become a member of the AIIB.