Jun
24
Australia Pledges A$930M to Become 6th-Largest AIIB Shareholder
ByAustralia will contribute A$930 million ($720 million) of paid-in capital to become the China-led Asian Infrastructure Investment Bank’s sixth-largest shareholder, Treasurer Joe Hockey said.
The decision to join the AIIB, which will have paid-in capital of $20 billion and total authorized capital of $100 billion, comes after discussions with “key partners around the world,” Hockey said in an e-mailed statement Wednesday.
After initial concerns, Australia is now confident that China “will ensure that there is appropriate transparency and accountability in the bank,” Hockey said in a separate interview on Sky News on Wednesday…
Australia Pledges A$930M to Become 6th-Largest AIIB Shareholder
