OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

I thought the US was trying to join?

Posted by ipso facto @ 10:07 on April 1, 2015  

Taiwan and Norway are to join the new Asian Infrastructure Investment Bank (AIIB).

They become the last countries to apply to the China-led bank before the Tuesday deadline.

They join more than 40 members, including Australia, South Korea, Britain, France, and Germany that have signed up to the development bank.

The US and Japan have refused to join, with both countries worried about standards of governance.

There are also concerns over whether loans will carry adequate environmental, labour and social safeguards.

The AIIB will help finance construction of roads, ports, railways and other infrastructure projects in Asia.

It was launched with 21 members in October, and will have an initial capital of around $50bn, with China expected to be the biggest stakeholder.

more http://www.bbc.com/news/business-32128357

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.