Over 40 countries seek membership of China-led Asian infrastructure bank

At least 47 countries and territories from five continents have applied to join the Beijing-led Asian Infrastructure Investment Bank as founding members.

Sweden and Kyrgyzstan were among the last to apply before the deadline passed yesterday, adding further weight to the regional financing body, which has seen its influence grow even before it officially starts operation.

Foreign ministry spokeswoman Hua Chunying said that 30 countries had already been approved as Prospective Founding Members (PFMs), but the exact number of PFMs would not be confirmed until April 15.

"Some applicant states are still undergoing a multilateral review process," she said.

Meanwhile, the AIIB's preparatory committee held its third round of negotiations in Kazakhstan with 29 PFMs to discuss operational charters and other details of the US$50 billion fund, which has a capital target of US$100 billion, according to the finance ministry.

Hong Kong officials participated as part of the China delegation, the ministry said. Hong Kong, as a special administrative region of China, has signalled an interest in joining the bank. Chief Executive Leung Chun-ying yesterday urged pan-democrat lawmakers not to filibuster should the government seek the Legislative Council's approval on matters related to joining the AIIB.

Taiwan's cabinet said the island had applied to join as a founding member under the title of Chinese-Taipei, a name it uses in several international organisations, including the International Olympic Committee. But Beijing did not indicate whether it had received Taiwan's application.