Taiwan has submitted its application to join the China-led Asian Infrastructure Investment Bank (AIIB). The application was filed on Tuesday, the deadline for countries to apply to become founding members of the AIIB.
The AIIB is a multilateral development bank proposed by China last year to provide financing to infrastructure projects in Asia.
During a joint conference Tuesday evening, The Mainland Affairs Council and the finance ministry said both ministries filed an application to make sure the application procedure was done properly and on time. China confirmed on Wednesday that it received both applications.
But the finance ministry said it is still uncertain what name Taiwan will use while participating in AIIB functions. After Taipei expressed its interest in joining the AIIB, Beijing said it would welcome Taiwan as long as it joined under the “one China” principle. Currently, Taiwan participates in many international organizations under the name of Chinese Taipei.
China does not recognize Taiwan’s sovereignty and regards Taiwan as a renegade province, though the two sides have been ruled separately for more than 60 years.
As of March 31, 46 countries and regions had applied to be founding members of the AIIB. China has flat out rejected the application from North Korea while Taiwan’s application still hangs in the balance.
But the finance ministry said on Wednesday that even if Taiwan is not accepted as a founding member, it can still apply to be a regular member after the investment bank is officially formed.
Premier Mao Chi-kuo on Wednesday instructed the Cabinet to form an ad hoc group to supervise the progress.