Minister Mahat leaving for China to sign AIIB constitution

KATHMANDU, June 28: Minister for Finance Dr Ram Sharan Mahat is leaving here tomorrow for Beijing, the capital of China, to sign the constitution of the Asian Infrastructure Investment Bank (AIIB). The signing on the constitution is taking place on Monday.

Representatives of 57 prospective founding countries of the AIIB will be meeting in Beijing for it.

China first proposed the AIIB in 2014 with the aim of financing infrastructure. Many countries do not have the capacity to fund the infrastructure upgrades they need. So far, 57 countries have agreed to join the AIIB.

Joint Secretary at the Ministry of Finance and Chief of International Financial Assistance Coordination Division chief Madhu Kumar Marasini and Division Under-Secretary Prem Prasad Upadhyay have already flown to Beijing to attend the signing in ceremony. RSS

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