Australia to contribute to AIIB

  • Business
  • Thursday, 25 Jun 2015

SYDNEY: The Australian government said it would contribute A$930mil (US$718.9mil) over five years to the new China-led Asian Infrastructure Investment Bank (AIIB), making it the institution’s sixth largest shareholder.

A total of 57 countries, including Britain, France and Iran, have joined the $100bil lender, which is seen as a rival to the Western-dominated World Bank.

“Joining the AIIB presents Australia with great opportunities to work with our neighbours and largest trading partner to drive economic growth and jobs,” a statement from Australia’s Treasury and Foreign Affairs departments said. - Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

CPO futures may see technical correction after rally
Ringgit to trade in tight range vs US$
New warning system to sound alarm on rainforest 'tipping points'
FOREX-US$ posts second week of gains ahead of Fed meeting
Oil price edges up in weekly rebound on forecasts for tight supplies
GLOBAL MARKETS-US stock markets hit new highs
Hotel industry’s defining moment
The toll on employment
Short Positions - Insurance, Covid-19, ESG
DPI Holdings sees virus-led opportunities

Stories You'll Enjoy