Libya joins China-based AAIB

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Libya joins China-based AAIB

December 27, 2018 - 13:22
Written by: SafaAlharathy

The Asian Infrastructure Investment Bank (AIIB) has agreed to accept Libya as a member of the 93-nation multilateral financial institution established by China in 2015.

The Board of Governors of the Bank approved the accession of six countries, including Libya, Algeria, Ghana, Morocco, Togo and Serbia, according to an AIIB statement Wednesday.

Libya will join the bank, based in Beijing, officially, once finalising the local processes required and depositing the first financial installment in the financial institution.