Indonesia becomes 22nd founding member of AIIB

Indonesia's Finance Minister has signed a Memorandum of Understanding (MOU) to establish the Asian Infrastructure Investment Bank (AIIB), the authorities said on Thursday.

Indonesian Finance Minister Bambang Brodjonegoro signed the MOU in Jakarta on Tuesday, joining 21 countries that signed the MOU on October 24 in Beijing as the bank's founding members, said an announcement of China's Ministry of Finance (MOF).

So far, the number of Prospective Founding Members of the AIIB has increased to 22, including Bangladesh, Brunei, Cambodia, China, India, Indonesia, Kazakhstan, Kuwait, Laos, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, the Philippines, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan and Vietnam.

The MOF said any countries interested in the AIIB are welcomed to join the bank.

It is expected that the Prospective Founding Members will complete the signing and ratification of the Articles of Agreement (AOA) in 2015 and AIIB will be formally established by the end of 2015.