(ECNS) -- The Asian Infrastructure Investment Bank (AIIB) welcomed its 110th member after its Board of Governors approved the application of Nauru in Uzbekistan on Thursday.
The AIIB's annual meeting of the Board of Governors meeting was held from Wednesday to Thursday with the theme "Building Resilient Infrastructure for All."
It approved more than $3 billion investment to Uzbekistan for a number of projects in areas such as infrastructure, energy, transportation, water supply and sustainable development.
The multilateral development bank‘s mission is to finance infrastructure that prioritizes sustainability. It is involved in nearly 300 projects worldwide amounting up to $53.7 billion dollars.
The bank has mobilized over $170 billion dollars for infrastructure development, benefiting 37 member countries in Asia and other regions.
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