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Tuesday, September 1, 2015

Founding Members Ink Agreement on Asian Infrastructure Investment Bank (AIIB) in Beijing,China Monday August 31,2015

 
India along with 49 Prospective Founding Members (PFMs) on Monday August 31,2015 signed the Articles of Agreement for the formation of the Asian Infrastructure Investment Bank (AIIB)

 
 
 

The remaining seven founding members can sign the agreement till December 2015

The signing ceremony took place in Beijing at the Great Hall of the People. 

The AIIB is expected to focus on the infrastructure development in Asia, and unlike the existing International Monetary Fund (IMF) and World Bank, is unlikely to restrict lending on political considerations.

Following the Signing Ceremony, China’s President Xi Jinping welcomed the Heads of Delegations from the Bank’s 57 Prospective Founding Members.

 A Special Ministerial Meeting was also held in the afternoon chaired by Finance Minister of China, Lou Jiwei.

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