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Fiji to be a member of Asian Infrastructure Investment Bank

July 17, 2015 7:00 am

Fiji will be joining the Asian Infrastructure Investment Bank as a member.

Prime Minister Voreqe Bainimarama told CCTV that Fiji decided to join when they heard about the bank.

Bainimarama says being a member and adopting the 21st century maritime Silk Road initiatives will benefit Fijians.

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‘’Both of these initiatives will be of benefit to Fiji not only in Fiji but other countries in the region where we will be able to provide them and assist them in infrastructure developments that’s the most important thing with these two initiatives. They’re very good initiatives for Fiji and the region’’.

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution which is focused on supporting infrastructure construction.

AIIB is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank which are regarded as dominated by developed countries like the United States.

The bank was initiated by the government of China and supported by 32 other countries from Asia and Oceania and 17 non-regional countries.

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