Afghanistan becomes permanent member of AIIB

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KABUL (TCA) — The Afghan Ministry of Finance said on October 15 that Afghanistan has been granted permanent membership of the Asian Infrastructure Investment Bank (AIIB), TOLOnews reported.

According to the ministry’s statement, “on the sidelines of the World Bank and International Monetary Fund meetings and the second day of the Minister of Finance’s trip to Washington DC, Afghanistan received the certificate of permanent membership of the AIIB.”

The ministry said that it is expected that in the near future, the President of AIIB Jin Liqun will visit Afghanistan.

“On the sidelines of the World Bank’s annual meeting, the Finance Minister of the country, who is in Washington DC to attend the meeting, has obtained a permanent membership certificate,” said Mohammad Aqa Kohistani from the ministry of finance.

Meanwhile, a number of economic analysts welcomed the move and said it was important for Afghanistan in terms of funding major projects in the country.

Analysts said Afghanistan must utilize its existing opportunities.

“Using the AIIB investment opportunities goes back to our plans and the efforts of the Afghan government to use this golden opportunity,” said university lecturer Hasibullah Mohad.

The AIIB is a new multilateral financial institution founded to bring countries together to address the infrastructure needs across Asia. By furthering interconnectivity and economic development in the region through advancements in infrastructure and other productive sectors, it aims to stimulate growth and improve access to basic services.

AIIB has so far accepted thirteen member countries including Afghanistan.

 

Sergey Kwan

TCA