China's Ministry of Finance says Spain, the Republic of Korea and Austria have been approved as prospective founding members of the Asian Infrastructure Investment Bank.
This brings the number of prospective founders to 41. Membership will be finalized on April 15. Founding members have the right to make the bank's rules. Countries that applied to join after March 31st will be ordinary members with voting rights only, and less say in the rule-making process.
The AIIB will provide financing for roads, railways, airports and other infrastructure projects in Asia. It is intended to be established by the end of this year.