Arab Today, arab today chinabacked infrastructure bank formally established
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

China-backed infrastructure bank formally established

Arab Today, arab today

Arab Today, arab today China-backed infrastructure bank formally established

With authorised capital of $100 billion, the China-backed Asian Infrastructure Investment Bank
Beijing - AFP

The China-backed Asian Infrastructure Investment Bank (AIIB), viewed by some as a rival to the World Bank and Asian Development Bank, was formally established on Friday, according to a statement issued by Beijing.

The United States and Japan -- the world's largest and third-largest economies, respectively -- have notably declined to join the bank, which is expected to begin operations early next year, though others such as Australia, Germany and Britain will take part.

It will be operational once its board of directors and executive council have met for the first time at an opening ceremony scheduled for January 16-18, the ministry of finance said in a statement on its official website.

Beijing will be by far the largest AIIB shareholder at about 30 percent, according to the legal framework signed by 50 founding member countries in late June.

The bank is headquartered in Beijing and currently has 57 members.

With authorised capital of $100 billion, it expects to offer its first batch of project loans by mid-2016, according to the official Xinhua news agency.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinabacked infrastructure bank formally established Arab Today, arab today chinabacked infrastructure bank formally established

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinabacked infrastructure bank formally established Arab Today, arab today chinabacked infrastructure bank formally established

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday