H.E. Nodar Khaduri, Minister of Finance of Georgia signed the Incorporation Agreement of the Asian Infrastructure Investment Bank (AIIB) for Georgia in Beijing today.

As of now, AIIB as 57 founding members, out of which Georgia ranks 45th.

AIIB is an international financial institution and its core directions are as follows: stimulation of economic growth through investments in different sectors of production and manufacturing through investments in different enterprises, development of infrastructure networks of Asia, facilitation of regional partnerships and close cooperation with various financial institutions.

Membership in the AIIB is an opportunity of Georgia to seek additional concessional financing for its infrastructure projects.

Following countries are among the founding members of the AIIB: Australia, Azerbaijan, Bangladesh, Brunei Darussalam, Cambodia, China, Georgia, India, Indonesia, Iran, Israel, Jordan, Kazakhstan, Korea, Kuwait, Kirgizstan, Laos, Malaysia, Maldives, Mongolia, Myanmar, Nepal, New Zealand, Oman, Pakistan, Philippines, Qatar, Russia, Saudi Arabia, Singapore, Sri Lanka, Tajikistan, Thailand, Turkey, United Arab Emirates, Uzbekistan and Vietnam.

Members of the AIIB are also: Austria, Brazil, Dania, Egypt, Finland, France, Germany, Iceland, Italy, Luxemburg, Malta, the Netherlands, Norway, Poland, Portugal, South Africa, Spain, Sweden, Switzerland and United Kingdom.

Incorporation Agreement of the AIIB will be open till the end of 2015 for other seven countries. New international financial institution will start its operation at that time.

Today the delegation leaders met H.E. Xi Jinping, President of People’s Republic of China.