By Tej Parikh
Cambodia, February 2, 2016
Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs.
Launched in Beijing last weekend, the multilateral development bank aims to support infrastructure growth in the Asia-Pacific region through the provision of loans, and supports China’s ambitious “One Belt, One Road” initiative to boost trade and connectivity across the Eurasian landmass.
– Business Analysis
Last week, the National Assembly ratified a $62.3 million investment proposal in the $100 billion capitalized bank, making Cambodia one of 57 prospective founding member states throughout the world.
“The more institutions that Cambodia can tap into for funding the better,” David Van, managing director at consultancy firm Bower Group Asia, said in an email.
Read more: Cambodia Daily