Russia Makes Bid for AIIB Projects up North
Russia proposes 16 projects to the AIIB, approximately $8 billion in total estimated costs. The projects are intended to target infrastructure development along the Northern Sea Route. A Russian spokesman stated that the projects will be officially announced perhaps at the Eastern Economic Forum as a result of the AIIB still finalizing logistics of the bank's team.
Hong Kong Looking to Aid in Facilitating Investment Funding of AIIB Member
Hong Kong-based project finance expert, John Yeap, talks about the way in which Hong Kong will be able to help with the financial management of funds from countries participating in One Belt, One Road projects via the island's new Infrastructure Financing Facilitation Office (IFFO). The IFFO is set to open later in July.
Under Pressure. David Cameron at the G7 Summit
This article underscores the stance that several key members of the G7, the United States and Japan, have towards Great Britain's growing friendship and economic ties with China. This will be particularly manifested during the upcoming G7 Summit meeting, where British PM, David Cameron, is expected to take a bit of heat with from the U.S. and Japan with his support for Chinese-led initiatives such as the AIIB. Japan's minister, Shinzo Abe, is expected to drive "defending the rule of law at sea" in regards to China's role in the South China Sea as a primary topic on the agenda.
MOU in the Works Between World Bank and AIIB
The Africa News Agency reports on a statement given by World Bank Country Economics Unit Senior Economist, Gilles Alfandari, in an interview with Sputnik News. According to Alfandari, the World Bank and the AIIB are expected to finalize a Memorandum of Understanding within the coming months. No set date of timeline has been given at this time.
Does the World Bank's Announcement of Funding for Cambodia come at a Bad Time?
The recent announcement by the World Bank to issue $130 million in loans to Cambodia has come under fire from development experts around the world. This action by the World Bank highlights the fact it is trying to maintain its significance in the South East Asian region despite the rapid growth of the AIIB taking place simultaneously.
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