S'pore among 50 countries to sign AIIB agreement

Tokyo

SINGAPORE was among 50 countries to sign the Articles of Agreement (AoA) of the Asian Infrastructure Investment Bank (AIIB) at a ceremony in Beijing on Monday, marking another step towards operations of the China-led bank by year's end.

The signing brought pledges of support from the World Bank, the Asian Development Bank and others, which promised cooperation with the new multilateral institution, whose members include most of the world's leading nations except the US and Japan.

Singapore's Senior Minister of State for Finance and for Transport Josephine Teo said: "We are keen to support further economic development in the re…