Maldives gets opportunity to become AIIB Founder Member

Government has said that Maldives has got opportunity to become a founder member of Asia Infrastructure Investment Bank (AIIB) to be inaugurated with initiation of China.

In a press conference held by the Economic Council on Monday, Mohamed Hussain Shareef (Mundhu), Minister at the President’s Office said that Maldives has got the opportunity to participate in the bank that provides loan for infrastructure for AIIB member countries.

“We have got lot of useful information on sharing President Yameen’s request with them. We will be founder members when the bank inaugurates next year” said Mundhu.

Mundhu said that the bank to be started by communicating with 20 countries would be inaugurated next year and Adviser of the Economic Ministry Arif Hilmy has been allocated as the Chief Negotiator from Maldives in the board of AIIB.

He said that loan of $50 billion would be lent to member countries upon the inauguration of the bank and said he was assured that Maldives will be given aids on various dimensions. According to Mundhu, bank has given assurance that Maldives would be among first countries to be provided with the loan from that bank.

By answering a question asked by Sun Online, Mundhu said that Maldives would get loan for private sectors and for international investments from AIIB.

Mundhu, in the press conference noted that making the agreement for the development of runway, fuel farm and cargo terminal at Ibrahim Nasir International Airport was in progress and the on-site work would be started by mid-2015.