(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 20. The Asian Infrastructure Investment Bank's (AIIB) Board of Governors has approved Colombia's membership application, raising the Bank's approved membership to 111, Trend reports via the Bank.

Colombia is now AIIB's 58th non-regional member, 10 of which are from Latin America.

Prospective members, including Colombia, will officially join AIIB once they complete the required membership procedures and payment of their first capital installment to the Bank. The shares allocated to the new prospective members come from the Bank's existing pool of unallocated shares.

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing“Infrastructure for Tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 111 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.

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