As many as 20 countries approach AIIB for membership

Up to 20 countries have approached the China-backed Asian Infrastructure Investment Bank as prospective members as the bank prepares to fund its first projects within the next six months, The Wall Street Journal reported, citing its president-designate, Jin Liqun. Jin said the bank would practice “universal procurement and universal recruitment,” and dismissed concerns that it might have an institutional bias toward Chinese companies or against those from countries that haven’t joined (like Japan and the US). “AIIB will be a good global citizen,” he said, adding that the bank will operate with a focus on “transparency, openness, independence and accountability.”