AIIB extends deadline, but will more countries sign up?

Australian Prime Minister Tony Abbott with Chinese President Xi Jinping at the 2014 G-20 Summit in Brisbane. Will Australia and other holdouts join the Asian Infrastructure Investment Bank before the March 31 deadline? Photo by: Rob Maccoll / G20 Australia

Donor countries still on the fence about joining the China-led Asian Infrastructure Investment Bank have until the end of this month to sign on with founding member privileges.

Australia, Japan, South Korea and the United States sat on the sidelines when AIIB was launched with 21 founding members and a $50 billion startup capital in October in Beijing. But Prime Minister Tony Abbott has said that Canberra would be “happy” to come on board if AIIB will have governance arrangements like the World Bank.

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About the author

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    Alys Francis

    Alys Francis is a freelance journalist covering development and other news in South Asia for international media outlets. Based in India, she travels widely around the region and has covered major events, including national elections in India and Nepal. She is interested in how technology is aiding development and rapidly altering societies.