The Philippines reaffirms commitment to AIIB

Source:Xinhua Published: 2016/11/28 22:49:47

Philippine President Rodrigo Duterte's administration on Monday reaffirmed the country's commitment to the China-initiated Asian Infrastructure Investment Bank (AIIB).

Budget Secretary Benjamin Diokno told reporters that the Philippines is "ready to subscribe" this year and next year.

"Definitely, we want to be a member of the AIIB," he said.

The previous Philippine administration has approved the country's participation in the AIIB.

The indicative paid-in capital of the Philippines is 196 million US dollars, payable in five years or 39 million US dollars per annum.

Posted in: ECONOMY

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