Asian Infrastucture Investment Bank

India, along with 20 other countries, signed the inter-governmental Memorandum of Understanding (MoU) on establishing the Asian Infrastructure Investment Bank (AIIB) on October 24th, 2014 in Beijing. All the signatory countries can become Prospective Founding Members of AIIB. The MoU is non-binding document. By signing the MoU, India is eligible to participate in the negotiations for arriving at a mutually acceptable Articles of Agreement (AoA) to constitute this Bank. The signatories to this Articles of Agreement will become the founding members of this Bank.