France, Germany and Italy follow in Britain's footsteps, joining the China-led international development bank, Asian Infrastructure Investment Bank (AIIB), say European officials, according to the Financial Times. The U.S. is upset about this for diplomatic reasons.

However, in spite of warnings from Washington to steer clear of the bank, media reports say there is an increased count of U.S. supporters to the institution.

Like Us on Facebook

The U.S. is mainly wary of AIIB, unsure if the bank will have high standards of governance and environmental and social safeguards. AIIB may broaden China's 'soft-power', though at the likely expense of the United States.

"Our messaging to the Chinese consistently has been to welcome investment in infrastructure but to seek unmistakable evidence that this bank takes as its starting point the high watermark of what other multilateral development banks have done in terms of governance," said Daniel Russel, Assistant Secretary of State for East Asian and Pacific Affairs.

"Every government can make its own decision about whether the way to achieve that goal is by joining before the articles of agreement are clarified or by waiting to see what the evidence looks like as the bank starts to operate," he adds.

EU parliament president Martin Schulz, though supportive of the European countries backing the bank, shares the same worry as the U.S.

"There is one additional element. Such new organizations must answer to the requirements of international standards. That is quite important," said Schulz.

Xinhua news agency also reports that South Korea, Switzerland and Luzembourg show interest in the bank.

AIIB was introduced in 2014 in Beijing to help boost investment in Asia in the following different industries: transportation, energy, telecommunications and other infrastructure. It is considered a competitor of World Bank and Asian Development Bank.

Earlier in the year, China announced that 26 nations, chiefly from Asia and the Middle East, joined the list of founding members. AIIB's articles of agreements will be completed by the end of the year.

TagsAIIB, US Allies, Support