The founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) met in Singapore this week for the 5th chief negotiator's meeting. The meeting was held from May 20 to 22.
In the three days of negotiations, members agreed on an “Asian Investment Bank Charter.” The signing ceremony for the charter will be held in Beijing in late June of this year.
With the signing of the charter, members plan to formally establish the AIIB before the end of the year.
The gathering was chaired by Chinese Vice Finance Minister Shi Yaobin and deputy secretary of Singapore's Ministry of Finance Yee Ping Yi.
Representatives of the 57 founding members and AIIB Secretary General Jin Liqun attending the meeting. Hong Kong SAR sent a representative to participate in the meeting as a Chinese government delegate.
The event marks the fifth negotiator's meeting since October 2014.
Source: inews.qq.com
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Keywords: AIIB Singapore China AIIB Asian Infrastructure Investment Bank
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so, is this supposed to be the downfall of the US dollar or what?
May 26, 2015 15:22 Report Abuse
competitor to the world bank (and possibly the IMF). This only deepens the possibility of WW3 in a few years...
May 23, 2015 14:14 Report Abuse
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