S. Korea Seeks Further Cooperation With Asian Infrastructure Investment Bank (AIIB)
Faizan Hashmi Published June 22, 2018 | 01:31 PM
South Korea's finance ministry said Friday that it will seek to expand cooperation with a China-led infrastructure development bank, which will help more Korean firms participate in the lender's projects.
SEJONG, (UrduPoint / Pakistan Point News - 22nd Jun, 2018 ) :South Korea's finance ministry said Friday that it will seek to expand cooperation with a China-led infrastructure development bank, which will help more Korean firms participate in the lender's projects.
During the Asian Infrastructure Investment Bank (AIIB)'s annual meeting in Mumbai from Monday to Tuesday, Seoul's deputy finance minister Ko Hyung-kwon will hold a series of meetings with AIIB's top executives, including AIIB President Jin Liqun, to discuss mutual cooperation, according to the ministry.
The deputy minister plans to call for a greater participation by private investors in the bank's massive infrastructure development program, it added.
The multinational lender was set up in 2015 to fund infrastructure projects in Asia, and South Korea joined the AIIB as one of its founding members. The bank is widely viewed as a potential counterbalance to U.S.-led multilateral lenders, such as the Asian Development Bank, amid growing Chinese economic clout.
The bank has focused on building infrastructure that can effectively address challenges, including climate change and regional disparity, in a move that underscored its commitment to meeting sustainable development goals.
Related Topics
Recent Stories
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
Pakistan retains position in FTSE secondary emerging market
High Commissioner of Malaysia hosts Iftar dinner reception
NEPRA announces 2nd quarterly adjustment in power bills with Rs 1.68 cut per uni ..
Hoopo Inc. Collaborates with SAU to Install Solar-Powered RO Plant
04 killed in Spain as Storm Nelson looms
Russian military jet crashes into sea off Crimea: Governor
Rain-windstorm/thunderstorm likely at various parts of country
Implementation of Sindh Agriculture Workers Act-2019 demanded
Pandemic accord talks heading for extra time
Khawaja reiterates PM commitment to judiciary
More Stories From Business
-
Pakistan retains position in FTSE secondary emerging market
7 hours ago -
Pakistan retains position in FTSE secondary emerging market
7 hours ago -
China's competitive car market at heart of global EV revolution
7 hours ago -
China's Xiaomi enters car market with new electric vehicle
7 hours ago -
Pak-Türkiye strategize to boost bilateral trade to $5 billion
9 hours ago -
Chief Representative of CFFEX in Pakistan and PSX Director meet Finance Minister
9 hours ago
-
Banks to open on March 30, 31 to facilitate tax collection
10 hours ago -
Stock markets rise before Easter break
10 hours ago -
NCA approves revised first quarter GDP estimates for 2023-24
10 hours ago -
26% increase on tobacco tax can reduce PKR 300bn in health cost
11 hours ago -
Minister expresses anguish over alleged use of poor-quality material
12 hours ago -
Commerce Minister initiates push for E-commerce growth with in-house briefing
13 hours ago