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$ 50 million Britain's contribution to the Asian Investment Bank project
18/12/2017 12:00 am [rtl]Beijing / follow-up The British government has signed an agreement with the Asian Infrastructure Investment Bank to contribute US $ 50 million to the Bank's special project financing fund. The agreement was signed by Bank of China President Lee Le Chun and British Treasury Secretary Philippe Hammond. The fund, established in June 2016, provides grants to members from low-income developing countries to produce quality projects. "These additional resources will help low-income member countries to prepare projects that are commensurate with the Bank's standards, and this will lead to the establishment of more financially viable and environmentally sustainable projects that are welcomed by local communities," said Jin. China and the ROK allocated $ 50 million and $ 8 million respectively to the fund, which the Asian Bank says is open to further contributions. The Beijing-based Asian Bank, which has been in operation for nearly two years, is a multilateral lender that helps improve infrastructure in Asia, which is lagging behind many parts of the world. Hammond said Britain strongly supports the Asian Bank's mission to address the infrastructure gap. The Bank provided US $ 1 million to Nepal to equip an urban infrastructure project and US $ 700,000 to Sri Lanka's solid waste management project.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=149511[/rtl] |
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