China's Parliament ratifies AIIB agreement

China’s Parliament has ratified the Asian Infrastructure Investment Bank (AIIB) agreement which establishes the legal framework for the Bank. The ratification by China, which is the bank’s largest shareholder is considered significant step closer to the AIIB’s formal establishment. Earlier ..

Month: Current Affairs - November, 2015

China nominates Jin Liqun for President of AIIB

China has nominated its former finance Minister Jin Liqun as the Presidential candidate for $100 billion Asian Infrastructure Investment Bank (AIIB). Presently, Jin is Secretary General of AIIB’s interim secretariat. Prior to this he was chairman of China International Capital ..

Month: Current Affairs - July, 2015

50 nations, including India sign 60-article agreement on China-led AIIB

50 founding nations including India have signed 60-article agreement of China-led multilateral Asian Infrastructure Investment Bank (AIIB). Australia was the first country to sign the agreement and was followed by 49 other members. Indian Ambassador Ashok Kantha signed the agreement ..

Month: Current Affairs - June, 2015

Australia to join China led AIIB

Australia has decided to join the China-led Asian Infrastructure Investment Bank (AIIB) as a founding member. In this regard, Australia will contribute paid-in capital of 718.5 million US dollars over next five years i.e. till 2020.  With this investment it ..

Month: Current Affairs - June, 2015