Bangladesh all set to become AIIB founding member as parliament passes bill

Bangladesh is now all set to become a founding member of the China initiated Asian Infrastructure Investment Bank (AIIB) as the country's parliament has passed a bill in this connection.

"We're now all set to join the bank as a founding member as our parliament on Wednesday night passed the Asian Infrastructure Investment Bank Bill 2016," said a senior finance ministry official on Wednesday.

The official who did not like to be named said the country will also soon submit part of its subscription fees.

Prime Minister Sheikh Hasina's cabinet in December last year approved the bill which was on Wednesday passed in the parliament by voice vote.

Bangladeshi State Minister for Finance and Planning MA Mannan placed the bill with Speaker Shirin Sharmin Chaudhury in the chair.

In his speech while placing the bill, the state minister expressed the hope that Bangladesh which is in a dire need for more capital for its development activities, will get AIIB support.

He informed the house that AIIB focuses more on sustainable Asian development through bolstering regional cooperation and partnership among bilateral and multilateral development partners.

"We're joining AIIB to have support for our development activities."

" Joining AIIB won't hamper our relations with the World Bank or the Asian Development Bank or any other international donor agencies," he said replying to a question of an opposition lawmaker. Endit