Serbia has officially became a non-regional member of the Asian Infrastructure Investment Bank (AIIB).

On August 23, Serbian Finance Minister Sinisa Mali said that by joining the AIIB, Serbia will “gain access to favorable credit funds for the implementation of priority projects".  

A Finance Ministry statement said that the country had fulfilled all the necessary procedures and conditions for membership.

Namely, Serbia has adopted the Law on Confirmation of the Founding Act of the AIIB, deposited the instrument of accession, and paid the first installment of its share in the bank's capital.

In July, the AIIB reached the 100 approved members milestone after its Board of Governors supported the applications of three African countries, Benin, Djibouti and Rwanda, during the bank’s annual meeting in Luxembourg.