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Ratification of AIIB "most noteworthy" resolution: Philippine Senate

Xinhua, December 14, 2016 Adjust font size:

The Philippine Senate viewed the ratification of the China-led Asian Infrastructure Investment Bank (AIIB) as the "most noteworthy" resolution it adopted as the congress adjourned its session on Wednesday.

Senate President Aquilino Pimentel III said Senate Resolution No. 33, pertaining to the ratification of Articles of Agreement of AIIB, is one of the 33 resolutions that the Senate approved since July 25 when the 17th Congress started.

Regular sessions will resume on Jan. 16, 2017.

Pimentel said the confirmation of AIIB's Articles of Agreement provided "the government access to more sources of funding so we can usher in a golden age of infrastructure for the Philippines."

The AIIB is a multilateral lending institution aimed at promoting economic development in Asia.

The AIIB's 57 members include China, India, Russia, France, Germany and Britain among others.

The Philippines signed the Articles of Agreement on Dec. 31, 2015, in Beijing. Endit