(MENAFN) Myanmar 's parliament approved a proposal to invest USD264.5 million in the Asian Infrastructure Investment Bank (AIIB), Xinhua reported.
According the minister of Finance and Revenue, 20 percent or USD52.9 million of the investment amount will be contributed to the bank by Myanmar at the initial stage every year for 10 years.
Myanmar has been a member of the World Bank and the Asian Development Bank (ADB), getting monetary assistance from the institutions.
Likewise, Myanmar should participate in the AIIB as a member to get infrastructure investment assistance, said the minister of National Planning and Economic Development.
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