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Chile mulls membership in Asian Infrastructure Investment Bank

Chile may become the first South American member of China-based Asian Infrastructure Investment Bank, Pulso reported, citing Economy Minister José Ramón Valente.

The country's possible membership was discussed in a meeting in Santiago with President Sebastián Piñera and the bank's president, Jin Liqun. Piñera is said to have shown interest in membership, as "it could be an attractive source of financing for Chile's infrastructure projects," Valente reportedly said.

AIIB expects Chile to sign up for membership before the year ends, Valente added, noting that Chile's Congress still has to ratify the country's entry.

China officially established AIIB in 2015 after 17 member-countries ratified the bank's articles of agreement. It now has 84 member-countries, according to its website.