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Inauguration of Asian Infrastructure Investment Bank (AIIB)

,17 Jan 2016

His Excellency Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD) participated in the opening of the Asian Infrastructure Investment Bank (AIIB) in China. AIIB was set up to serve as a new platform for regional and international cooperation in infrastructure development across Asia.

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UAE joined Asian Infrastructure Investment Bank (AIIB) as a permanent founding member in April 2015 along with 57 other countries. ADFD was mandated to represent the UAE as well as coordinate, manage and follow-up projects implemented through this partnership.

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The UAE’s contribution in AIIB’s paid capital is around US$237 million.  The banks announced capital is US$100 billion.

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The bank seeks to provide new financial resources for infrastructure development and improvement across Asia, while maintaining balanced economic growth in the countries of the region, and addressing the challenges facing development projects.