ASIA & INTERNATIONAL LAW

Malaysia backs China over Asian Infrastructure Investment Bank (AIIB)
24th August 2015

Malaysia fully supports China's setting up of the Asian Infrastructure Investment Bank (AIIB) that will rival the US-led World Bank and the International Monetary Fund.

The US$100bil (S$140bil) AIIB will fund development projects that promote connectivity and economic integration in Asia. China's former deputy finance minister Jin Liqun has been named president-elect of the bank. Japan and the United States were among the countries that opted out of the initiative.

ASIA & INTERNATIONAL LAW