Deputy Foreign Minister Reezal Merican Naina Merican. (Source: AFP) Malaysia commits to contribute 218.8 million USD to the Asian Infrastructure Investment Bank (AIIB), initiated by China, said Deputy Foreign Minister Reezal Merican Naina Merican on October 16.
The deputy foreign minister said the investment will be made in the next five years.
Fifty-three out of 57 founding AIIB countries signed an agreement to set up the bank. Malaysia became the 51st signatory after signing the deal on August 21.
With total capital of 100 billion USD, AIIB aims to foster infrastructure and development in Asia. AIIB will co-operate with the World Bank (WB) and other development banks as it looks to improve and renew the infrastructure system that plays a crucial role in poverty reduction.-VNA
VNA
