June 16, 2017 / 7:18 AM / a year ago

AIIB approves Argentina, Madagascar and Tonga as new members

BEIJING, June 16 (Reuters) - The board of the Asian Infrastructure Investment Bank (AIIB) has approved the applications of Argentina, Madagascar and Tonga to be members, the China-backed multilateral development bank said.

The three prospective members will officially join once they complete the required domestic processes and deposit the first instalment of capital with the bank, AIIB said in an emailed statement on Friday. (Reporting by Ryan Woo; Editing by Richard Borsuk)

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