Myanmar parliament approves $264.5 million for AIIBStaff writer ▼ | June 13, 2015
Myanmar 's parliament approved a proposal to invest $264.5 million in the Asian Infrastructure Investment Bank (AIIB), parliament sources said.
Power in Asia Asian Infrastructure Investment Bank
Myanmar has been a member of the World Bank and the Asian Development Bank (ADB), getting monetary assistance from the institutions. Likewise, Myanmar should participate in the AIIB as a member to get infrastructure investment assistance, said Kan Zaw, minister of National Planning and Economic Development.
Proposed by China, AIIB aims at providing finance to infrastructure projects in the Asian region. ■