Afghanistan obtains AIIB permanent membership

Kabul: Afghanistan has obtained the permanent membership of the Asian Infrastructure Investment Bank (AIIB), the finance ministry announced on Sunday.

Finance Minister Eklil Hakimi received the Certificate of Permanent Membership of the AIIB on the sidelines of the World Bank and International Monetary Fund (IMF) meeting earlier this week in Washington, the ministry said in a statement.

“Afghanistan’s membership in the bank has been very important and paves the way for the implementation of major national projects,” the statement said.

Established in 2015, AIIB aims to provide financing to address the daunting infrastructure needs across Asia.