The United Arab Emirates has joined the Asia Infrastructure Investment Bank as a founding member.

The Abu Dhabi Fund for Development will represent the UAE government on the AIIB's board of directors.

At the same time, the Polish government says it has also set a letter of intent to join the AIIB as a founding member.

More than 40 countries have signed up to be a part of the institution.

The exact number of founding members will be confirmed on April 15th.

The Asian Infrastructure Investment Bank is going to be a financial institution meant to provide funding for infrastructure projects in Asia.