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AIIB approves membership of Uruguay

By Pittaluga Abogados - 01/06/2020

The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved membership applications of four more countries, bringing AIIB’s total approved membership to 97. The new group of approved members comprises Côte d’Ivoire, Guinea, Tunisia and Uruguay.

“The growth in membership from Africa and Latin America demonstrates the importance that these countries attach to improving infrastructure and connectivity with Asia,” said AIIB Vice President and Corporate Secretary Sir Danny Alexander. “It also reflects the commitment of our members to multilateral co-operation and high standards of governance. We look forward to the contribution that these four countries will make to the development of AIIB”.

The four prospective members will officially join AIIB once they complete the required domestic processes and deposit the first capital installment with the Bank. Shares allocated to the new prospective members come from AIIB’s existing pool of unallocated shares. AIIB’s charter was signed by 57 countries before the Bank was launched in January 2016. In 2017 and 2018, AIIB announced the approval of 36 new membership applications. AIIB expects to continue welcoming new members in the future.

By Pittaluga Abogados - 01/06/2020
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Pittaluga Abogados

Pittaluga Abogados, has initiated its professional practice 20 years ago, as an Intellectual Property Law Firm.

After some years providing a specialized and top level service for foreign clients, many of them among the world premier companies, Pittaluga Abogados obtained a recognized international prestige in said field, which convert it into one of the leaders Intellectual Property Law Firms in Uruguay.

Thus, today in P&A we take pride in emphasizing that our goal has always been and will continue being, to keep a personal relationship with our clients, considering at all times the priorities of our clients as our own, with the belief that each one of them is unique and irreplaceable.