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China-led investment bank attracts 25 new members

A wave of about 25 African, European and South American countries is set to join the China-led Asian Infrastructure Investment Bank this year, reinforcing Beijing’s determination to push a global agenda even as US President Donald Trump rails against the ills of economic globalisation.

Jin Liqun, president of the AIIB, said on Monday that an expanded membership would help boost lending by the $100bn multilateral organisation, which was founded last year with 57 founding shareholders in spite of opposition from the US.

“Now that China has developed, it is our turn to contribute,” Mr Jin said in an interview. “China needs to do something that can help it be recognised as a responsible leader.”

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