China to invest additional $50 million in AIIB: President Xi

BEIJING: China will invest an additional $50 million in the Asian Infrastructure Investment Bank (AIIB), President Xi Jinping said at the bank’s opening ceremony in Beijing on Saturday.

The AIIB, which is seen as a rival to Japan-led ADB and U.S.-led World Bank, has become one of China’s biggest foreign policy successes, and was set up by Beijing after it became frustrated by delayed reforms at the International Monetary Fund.

REUTERS

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