AIIB founders top 57 with seven new members

The prospective founding members of the Asian Infrastructure Investment Bank (AIIB) hit 57 on Wednesday after seven more countries were approved, China's Ministry of Finance said.

Sweden, Israel, South Africa, Azerbaijan, Iceland, Portugal and Poland were all included as founding members.

Founding members of the AIIB have the right to help define the bank's rules, while countries that applied to join after March 31 will be considered ordinary members with voting rights only but less say in the rule-making process.

The AIIB will provide financing for roads, railways, airports and other infrastructure projects in Asia. It is expected to be established by the end of this year.