BEIJING -- China's Ministry of Finance on Sunday welcomed the decisions of Denmark and Australia to apply to join the Asian Infrastructure Investment Bank (AIIB).

Denmark filed its application letter on Saturday, while Australia followed on Sunday, the ministry said in a statement.

Should all existing members approve the applications, Denmark will become a founding member of the AIIB on April 12 and Australia on April 13, according to the statement.

The AIIB, which will support infrastructure projects in Asia, is expected to be established by the end of this year.

The application deadline is March 31 and the founding members will be confirmed on April 15.