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(Opinion) Philippines to (Finally) Join China's Asian Infrastructure Investment Bank

2015-12-31 07:33:24       source:The Diplomat

By Shannon Tiezzi


December 31, 2015


"The Philippines has decided to join the Chinese-led Asian Infrastructure Investment Bank after all, following months of hedging as the government in Manila considered the pros and cons.


The Philippines signed on to become a founding member of the Asian Infrastructure Investment Bank in October 2014, but government officials insisted later that 'non-binding' agreement only positioned Manila as a prospective member. The Philippines, along with several other founding member states, expressed reservations regarding the bank's governance – concerns that should have been addressed one way or the other with the finalization and signing of the bank's charter in June 2015. However, the Philippines was one of seven countries that abstained from the signing ceremony because the agreement was still under consideration domestically."


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