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Taiwan submits letter of intent to join AIIB

2015/03/31 20:55:39

Taipei, March 31 (CNA) Taiwan has sent out a letter of intent on joining the proposed China-led Asian Infrastructure Investment Bank (AIIB), Foreign Affairs Minister David Lin (林永樂) said Tuesday.

The letter of intent was sent at around 7 p.m., Lin said. Tuesday is the last day for interested parties to apply for founding membership of the proposed regional bank.

Premier Mao Chi-kuo (毛治國) said it would be best for Taiwan to join the AIIB under the name of the Republic of China, although he also said that it is not yet time to talk about the name designation.

Meanwhile, China's Foreign Affairs Ministry spokeswoman Hua Chunying (華春瑩) said Taiwan's application to join the AIIB "should avoid giving rise to the issues of 'two Chinas,' or 'one China, one Taiwan.'"

Initiated by China, the AIIB is regarded by some as a potential rival to the International Monetary Fund, the World Bank and the Asian Development Bank (ADB), all of which are institutions dominated by developed countries such as the U.S.

The AIIB, which will aim to support infrastructure development projects in Asia, is expected to be set up by the end of this year.

The application window for membership was set to expire at midnight Tuesday, and China's official figures put the number of countries applying to join at 46 so far.

(By Tseng Ying-yu, Lawrence Chiu and Lilian Wu)

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