Asian Development Bank. Photo courtesy vanou / CC BY-NC-ND
Indonesia’s Finance Ministry signed a memorandum of understanding (MOU) to join the $50 billion China-backed Asian Infrastructure Investment Bank (AIIB), Reuters reports, citing a government official confirmed on Thursday.
Indonesia’s Finance Minister Bambang Brodjonegoro signed the MOU with Chinese Ambassador to Indonesia Xie Feng on November 25, according to the report.
Last Week, Indonesia’s Cabinet Secretary Andi Widjajanto had said that newly appointed President Joko “Jokowi” Widodo had agreed in principle to joining the bank. Indonesia’s local media also reported that the President was pushing to have the bank’s headquarters located in Jakarta so that Indonesia could play a larger role in the institution, according to Reuters.
“Indonesia highly appreciates the proposal of the Asian Infrastructure Investment Bank, and has been actively involved in the preparation process”, Brodjonegoro said, according to a statement published on a Chinese embassy website, which also included a photo of the signing ceremony, Reuters reports.
Source: Reuters
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