YEREVAN, January 25. /ARKA-. Armenia will join the Asian Infrastructure Investment Bank (AIIB) by acquiring a $37.4 million stake in the bank. A decision to that end was approved today by the government.  

Negotiations on Armenia's accession to AIIB started back in 2016.About AIIB

AIIB began operations in 2016 with 57 founding members (37 regional and 20 nonregional). By the end of 2020, it had 103 approved members representing approximately 79 percent of the global population and 65 percent of global GDP.

AIIB, as a multilateral development bank focuses on developing Asia but with members from around the world, invests in projects in more than 10 countries in such sectors as transportation, energy, telecommunications and urban development.  --0--