TEHRAN - In the meeting between Iran’s Minister of Finance and Economic Affairs with the head of the Asian Infrastructure Investment Bank (AIIB), the Iranian minister called for facilitating financing projects through this bank.

Abdolnaser Hemmati met with Jin Liqun on the sidelines of the 9th AIIB members ministerial meeting in Samarkand, Uzbekistan, IRNA reported.

During the meeting, Liqun acknowledged that Iran is one of the effective members of this financial institution, saying: “We are trying to provide the conditions for Iran to receive financing.”

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank and international financial institution that aims to collectively improve economic and social outcomes in Asia. It is the world's second largest multi-lateral development institution.

Headquartered in Beijing, China, the bank currently has 109 members, including 13 prospective members from around the world. The breakdown of the 109 members by continents are as follows: 42 in Asia, 26 in Europe, 22 in Africa, 9 in Oceania, 8 in South America, and 2 in North America.

The bank started operation after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total number of 50 percent of the initial subscriptions of the Authorized Capital Stock.

The Islamic Republic of Iran became a member of AIIB in 2015 by purchasing capital shares.

EF/MA