MercoPress. South Atlantic News Agency

China applies for IDB membership.

China has officially requested to become a member of the Interamerican Development Bank, IDB, --the region's main multilateral organization--, with the purpose of increasing “our already significant financial relations” with the region's countries.

Speaking in Washington during the weekend in coincidence with the IMF and World Bank annual assemblies, China's Central Bank Deputy Governor Li Ruogu pointed out "we want to join as a source of credit not as borrowers".

"China and Latinamerica have a long standing and wide financial relation", said Mr. Li Ruogu addressing a meeting of international bankers in Washington, "we want to contribute to Latinamerica's development".

IDB was founded in 1959 with 19 members including Latinamerican countries and the United States. Later on Caribbean countries jumped in and since 1976 outer region members joined totalling 46 members.

Non region members include Japan, sixteen European countries and Israel.

In the most recent IDB assembly held in Lima, Peru, it was agreed to increase the number of Asian members and together with China the main candidate is South Korea.

However a stumbling block could be Taiwan, which has requested membership but given the delicate situation with Beijing that considers the island a province, has forced a delay on the issue.

Several Central American countries that have received generous aid from Taiwan support the island-state request.