Singapore invests in China’s proposed infrastructure bank
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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