More countries to join China-backed AIIB investment bank

[ND-Dem]

Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank (AIIB), adding clout to an institution seen as enhancing China's regional and global influence.

The AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.

Other countries such as Turkey and South Korea have also said they would join. Brazil, China's top trading partner, said on Friday it would sign up and that there were no conditions set. "Brazil is very interested in participating in this initiative," the office of President Dilma Rousseff said in a statement...

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