UK support for China-backed Asia bank prompts US concern
The Asian Infrastructure Investment Bank agreement was signed in October by 21 countries, including China
*Speaking in Beijing last year, Mr Abbott said Australia would only sign up to "a genuinely multilateral body"
13 March 2015
13 March 2015
The US has expressed concern over Britain's effort to become a founding member of a Chinese-backed bank that could rival the likes of the World Bank.
The UK is the first big Western economy to apply for membership of the Asian Infrastructure Investment Bank (AIIB).
The AIIB will fund Asian energy, transport and infrastructure projects.
However, the US has raised questions over the bank's commitment to international standards on governance.
