Live Update 
From the Liveblog of
Tuesday, April 7, 2015
From the Liveblog of
Tuesday, April 7, 2015
Iran approved to join China-backed bank
Add ToI as a Preferred Source on GoogleIran has been approved as a founding member of the Beijing-backed Asian Infrastructure Investment Bank (AIIB), China’s finance ministry says, just days after Tehran sealed a historic framework agreement on its nuclear program.
Tehran’s application was backed by other founding members on Friday, China’s Ministry of Finance says in a statement on its website. The United Arab Emirates’ bid was also approved.
More than 50 countries, plus Taiwan, have now applied to join the bank in a diplomatic coup for Beijing after Washington initially opposed its allies becoming members.
The United States and its Asian ally Japan have not sought to join.
— AFP
If you’d like to comment, join
The Times of Israel Community.
The Times of Israel Community.
JOIN THE TOI COMMUNITY
Already a member? Log in here