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Taiwan sharply raises estimate of AIIB investment to NT$11 billion

Taiwan sharply raises estimate of AIIB investment to NT$11 billion

Taipei, June 11 (CNA) Taiwan's government will likely invest about NT$11 billion (US$355.60 million) to gain membership in the China-led Asian Infrastructure Investment Bank (AIIB), Finance Minister Chang Sheng-ford said Thursday, revising his earlier estimate of NT$2.2 billion. The estimated amount was increased sharply because of "changes in the circumstances" surrounding the recent passage of the bank's charter, Chang told the press. Under the AIIB's the newly confirmed charter, Asian members will contribute 75 percent of the total capitalization, while non-Asian members will make up the other 25 percent. Judging from South Korea's share, Taiwan will likely have to invest about NT$11 billion to be accepted as a member, which will take place later in the year when the AIIB charter becomes effective, Chang said. (By Wei Shu and S.C. Chang)


Updated : 2021-09-17 18:08 GMT+08:00