China's President Xi Jinping (4th R) meets with the guests at the Asian Infrastructure Investment Bank (AIIB) launch ceremony at the Great Hall of the People in Beijing in October 24, 2014
Mar 13, 2015
(Reuters) - Britain said it has sought to become a founding member of the Asian Infrastructure Investment Bank (AIIB), making it the first Western nation to embrace the China-backed institution, but the United States reacted frostily to the development.
17 March 2015
France and Germany are to join the UK in becoming members of a Chinese-led Asian development bank.
The finance ministries of both countries confirmed on Tuesday that they would be applying for membership of the Asian Infrastructure Investment Bank (AIIB).
Last week, the US issued a rare rebuke to the UK over its decision to become a member of the AIIB.
The US considers the AIIB a rival to the Western-dominated World Bank.
(Reuters) - The United States urged countries on Tuesday to think twice about signing up to a new China-led Asian development bank that Washington sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying they would join.
The concerted move by U.S. allies to participate in Beijing's flagship economic outreach project is a diplomatic blow to the United States and its efforts to counter the fast-growing economic and diplomatic influence of China.
Europe's participation reflects the eagerness to partner with China's economy, the world's second largest, and comes amid prickly trade negotiations between Brussels and Washington.
MOSCOW (Sputnik) — Luxembourg’s Finance Ministry confirmed Tuesday the country's bid to become a member of the Asian Infrastructure Investment Bank.
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