Denmark applies to join China-backed AIIB investment bank

Mon Mar 30, 2015 1:59am EDT
 
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BEIJING (Reuters) - (This March 29, 2015 story was refiled to add a dropped word in first paragraph)

Denmark has applied to join the Beijing-led Asian Infrastructure Investment Bank (AIIB), China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings of the United States.

The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.

"China welcomes Denmark's decision," the ministry said in a statement on its website, adding that China will first seek the views of other members. If the decision is approved, Denmark will officially be a founding member of the AIIB on April 12, the ministry said.

Danish Minister of Trade and Development Mogens Jensen called China's establishment of the AIIB "a significant and exciting development in the world order".

"Since many Danish trade interests as well as development cooperation interests will be at stake in AIIB, there are many reasons to engage in and influence AIIB’s investment decisions from its beginning," Jensen said in a statement.

On Saturday, Russia, Australia and the Netherlands became the latest countries to say they plan to join the AIIB, adding clout to an institution seen as enhancing China's regional and global influence.

China has set a March 31 deadline to become a founding member of the AIIB, which is seen as a significant setback to U.S. efforts to extend its influence in the Asia Pacific region and to balance China's growing financial clout and assertiveness.   Continued...

 
China's President Xi Jinping (front C) poses for photos with guests at the Asian Infrastructure Investment Bank launch ceremony at the Great Hall of the People in Beijing October 24, 2014.  REUTERS/Takaki Yajima/Pool