Chile set to join Asian Infrastructure Investment Bank as full member

BEIJING – Chile will join the Asian Infrastructure Investment Bank (AIIB), the Foreign Ministry announced as President Michelle Bachelet paid a state visit to China.

Bachelet, during a visit to the multilateral lender’s headquarters, said Santiago’s membership was a done deal.

“We are very happy to have been accepted as members and as a government have to do our part to get full membership approved,” Bachelet said, according to a ministry statement.

Founded in 2015, and seen as a counterweight to other development banks such as the World Bank, the AIIB finances infrastructure projects in Asia. It has founding members around the world including Britain, Germany and France.