| Follow us on:
|
Latest
Prime Minister Manmohan Singh has spoken at the Delhi Sustainable Development Summit.
February 1, 2013Comments Off on Indian PM wants transparent regimesRead More
Several countries have condemned the Israeli attack inside Syrian territory.
February 1, 2013Comments Off on Syria complains to UN over Israeli raidRead More
Sitaram Yechury says growing economic inequalities have been a singular feature for the last two decades of globalisation and its neo-liberal economic reforms.
February 1, 2013Comments Off on The two Indias: Shining for the rich, suffering for the poorRead More
© 2017 BRICS Media Limited. All rights reserved. Registered in England and Wales. No.8133697. Registered office: Devonshire House 60 Goswell Road London, EC1M 7AD
57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.
Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.
The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.
The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.
The US and Japan have not applied for the membership in the AIIB.