France, Germany and Italy today announce their intention to become founding members of the Asian Infrastructure Investment Bank (AIIB), a new investment bank that will work with existing multilateral development and investment banks.
The AIIB - explains a note from the Treasury - can play an important role in financing the vast infrastructure needs of Asia, promoting economic and social development and contributing to global growth.
France, Germany and Italy, working closely with European and international partners, intend to work with the founding members of the AIIB to build an institution that follows the best principles and best practices in corporate governance and safeguarding policies, debt sustainability and procurement.
