February 24, 2024

China blocks North Korean international bank membership

DPRK fails to produce economic information or pledges on repayments required for AIIB membership

China is not allowing North Korea to become a member of the newly established Asian Infrastructure Investment Bank (AIIB), sources told the financial news site Emerging Markets.

The new bank, proposed by the government of China, aims to provide finance for infrastructure projects in Asia. It currently has 45 founding members, including numerous Western countries.