Jordan becomes founding member of AIIB
Date
5/11/2015 1:58:37 AM
(MENAFN- Kuwait News Agency (KUNA)) Jordan has been officially approved as a founding member of the Asian Infrastructure investment Bank (AIIB), said the minister of planning on Saturday.
Minister Imad Fakhoury said in an official statement that Jordan, with the AIIB membership, would secure new credit resources for the country's development and infrastructural schemes.
The bank, headquartered in Beijing, China, has a capital of USD 100 billion. It was founded to fund such ventures in Asian countries.
A final treaty for establishment of the new 57-member bank is forecast to be hammered out in June. The bank establishment was proposed by China in 2013 and was launched at a ceremony in Beijing in October 2014. (end)
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