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Singapore invests in China’s proposed infrastructure bank

by ChemOrbis Editorial Team -
  • 29/06/2015 (15:44)
According to media reports, Singapore plans to invest $250 million in China’s planned regional Asian Infrastructure Investment Bank (AIIB). The AIIB will be an international financial institution which aims to provide financing for infrastructure projects in Asia. The $50 billion bank is expected to launch by the end of this year.

Fifty countries in total signed the agreement for the AIIB project. Singapore is planned to invest the first 20%, $50 million in the next 5 years annually. The rest of Singapore’s planned investment of $200 million will only be expected to be paid in case of economic hardship in the bank.

The country’s current Ministry of Finance, Teo, stated that Singapore benefited a great deal from multilateral financial institutions like the World Bank and the Asian Development Bank during its years of economic development. She pointed out that they are eager to support the economic development in the region as a country.
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