China hopes to become one of the shareholders at the Inter-American Development Bank, the biggest funding institution for Latin America. IDB president Luis Alberto, who was due to sign an agreement of understanding with People Bank of China head Zhou Xiaochuan, said the agency will discuss China’s application with its current members. Approval of the said request will take years and if granted, China will be the third Asian nation to be part of the IDB, after Japan and South Korea. (Source: China Aims to Join Development Bank/The Associated Press)

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