Israel has become the newest non-regional member of the Asian Development Bank, the Philippines-based lender announced, with an analyst cautioning that the move might cause “polarisation” in the institution, AFP reports.

The bank’s board of governors had approved Israel’s entry in April 2022 pending its completion of the membership requirements, the ADB said in a statement. Israeli Finance Minister Bezalel Smotrich will be the country’s representative, a source from ADB told AFP.

Security analyst Chester Cabalza, however, said Israel joining the ADB in the midst of the conflict in the Gaza Strip could lead to “other members fleeing the organisation” in favour of the China-led Asian Infrastructure Investment Bank (AIIB).

“Or we (may) see polarisation in the ADB as long as Israel will not resolve its security issues in Gaza,” Cabalza told AFP.