Asian Infrastructure Investment Bank
Cite as https://mymun.com/ppdb/6952
South Africa’s Cabinet approved the country’s joining of the China-led Asian Infrastructure Investment Bank (AIIB), making it only the second African country, among the bank’s 57 founding member states. South Africa and Egypt are the only African founding members with 0,595% and 0,605% shareholding in the bank respectively. As a matter of fact, southern Africa has hope in this project, indeed the bank will start operations with an investment purse of $50 billion, although its authorized amount is $100 billion; the money is supposed to finance infrastructure in countries that do not have the ability to do so themselves. Therefore, th...