Egypt took part in the signing ceremony of an agreement on the establishment of the Asian Infrastructure Investment Bank (AIIB) that will group 57 states.
Egyptian Ambassador here Magdi Amer represented Egypt in the signing ceremony that took place in he Great Hall of the People in Beijing.
China will hold a 30.34 percent stake in the AIIB, making it the largest shareholder in the bank.
The United States and Japan - the world's largest and third-largest economies, respectively - have declined to join the Chinese-led bank that is expected to go into operation later this year.
The Beijing-headquarted bank, with a capital of 50 billion dollars to increase to 100 billion dollars, groups six Arab members, namely Kuwait, Oman, Qatar, Saudi Arabia, Jordan and Egypt.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Ben Stokes gave England a firm grip on the first Test with bat and ball before Shakib Al Hasan's 5-79 revived Bangladesh…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
The London Fashion Week (LFW) is one of the most sought out shows of the year. LFW is an annual fashion event…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday