The Armenian government has approved the instrument for Armenia’s subscription to the Asian Infrastructure Investment Bank (AIIB), highlighting opportunities for infrastructure modernization and cooperation with China.
According to the government’s rationale, AIIB was established by China in 2015 as a multilateral development bank aimed at promoting sustainable growth in the Asia-Pacific region through improved infrastructure and close cooperation with international financial institutions. Today, AIIB has 106 approved members, including 57 founding members.
The bank’s vision focuses on developing green infrastructure, adopting new technologies, addressing modern challenges, and ensuring sustainability.
Armenia’s subscription is seen as a way to give new impetus to Armenian-Chinese political dialogue. It may also attract China-financed investment into Armenia’s transport infrastructure.
By joining AIIB, Armenia will gain the opportunity to participate in large-scale regional investment projects while working with other multilateral and bilateral development institutions. The government also emphasized that membership would diversify the country’s sources of credit financing.
