OPPORTUNITY?The finance minister, FSC chairman and central bank governor support participation, with caveats. Meanwhile, drought may drag down growth
Date: Mar 27, 2015
By: Amy Su / Staff reporter
Applying for membership in the Beijing-backed Asian Infrastructure Investment Bank (AIIB) could benefit the nation’s economy — if the Taiwan’s sovereignty could be protected, top financial and economic officials said yesterday.
China proposed establishing the AIIB to provide finance to major infrastructure projects across the Asian region and it is expected to be set up by the end of this year. The US$100 billion bank is seen as possible rival to the Asian Development Bank, as well as the World Bank and the IMF, which are seen to be dominated by developed countries such as the US. [FULL STORY]