Iran has been approved as a founding member of the Beijing-backed Asian Infrastructure Bank (AIIB), China's finance ministry said Tuesday, just days after Tehran sealed a historic framework agreement on its nuclear programme. Tehran's application was backed by other founding members on Friday, China's Ministry of Finance said in a statement on its website. The United Arab Emirates' bid was also approved. More than 50 countries, plus Taiwan, have now applied to join the bank in a diplomatic coup for Beijing after Washington initially opposed its allies becoming members.
from World News Headlines - Yahoo News Iran approved to join China-backed infrastructure bank : http://ift.tt/1DYrKKJ
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