SYDNEY, March 20 (Xinhua) -- Australia may join the Asian Infrastructure Investment Bank (AIIB) and potentially invest three billion Australian dollars (2.3 billion U.S. dollars), local media reported on Friday.
The Australian Cabinet's National Security Committee (NSC) is set to approve joining the bank on Monday, according to leaked documents given to Fairfax Media.
The news follows Australia initially rejecting the offer from China last year, citing concerns of governance.
According to the report, the NSC discussions included Prime Minister Tony Abbott, Foreign Minister Julie Bishop, Deputy Prime Minister Warren Truss, Defense Minister Kevin Andrews and Treasurer Joe Hockey.
Australia will first sign a "memorandum of understanding" to enter direct negotiations on the final structure of the bank.
Australia's move follows the decision of the United Kingdom to join the bank.
BEIJING, March 18 (Xinhua) -- Welcome Germany! Welcome France! Welcome Italy!
Despite a petulant and cynical Washington, the three leading European powers decided to join the Asian Infrastructure Investment Bank (AIIB) headquartered in Beijing on Tuesday.Full story
BRUSSELS, March 17 (Xinhua) -- Germany, France and Italy on Tuesday confirmed their respective intentions to join China-proposed Asian Infrastructure Investment Bank (AIIB).
The three countries' decision came in the wake of Britain's application last week to be a founding member of the 50-billion-U.S.-dollar bank. Full story
WASHINGTON, March 17 (Xinhua) -- The United States is not reconsidering entry to the Asian Infrastructure Investment Bank ( AIIB) despite the agreement by more of its European allies to join the China-proposed institution, the State Department said on Tuesday.
"I'm not aware of a reconsideration," spokeswoman Jennifer Psaki told reporters at a daily news briefing. Full story