(VOVworld) – Twelve countries are candidates for membership of the Eurasian Development Bank (EADB) by the end of 2017, Dmitriy Pankin, Chairman of the bank’s Management Board said on Wednesday.

Dmitriy Pankin, EADB’s Chairman (Photo: azvision.az)

In his statement, Pankin said the bank hopes to obtain the relevant licence to increase of the number of the participants in the EADB financial system by the end of next year and to complete all formal procedures by early 2018.

Vietnam is one among 12 candidates including Azerbaijan, Egypt, Israel, India, Indonesia, Iran, Mongolia, Singapore, Thailand, South Korea, and Japan.

He said factors including commercial relations and investment activities with members of the Eurasia Economic Union have been taken into account while selecting the candidates.

Vietnam and Iran have completed all the required technical steps.