Treasury written question – answered at on 30 January 2023.
Iain Duncan Smith
Conservative, Chingford and Woodford Green
To ask the Chancellor of the Exchequer, whether the Government has provided funding for the Asian Infrastructure Investment Bank.
Andrew Griffith
The Economic Secretary to the Treasury
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with 106 approved and prospective members globally. It invests in infrastructure and other productive sectors to foster sustainable economic development, create wealth, and improve infrastructure connectivity in Asia.
Alongside other members, the UK provided an initial financial contribution in return for AIIB shares. More details can be found in the AIIB Capital Order 2015.
In addition, the UK contributed to the AIIB’s Project Preparation Special Fund, which provides grant support for the preparation of high-quality projects for AIIB Members, especially less developed Members.
The Government works closely with the AIIB and other shareholders to ensure its investments are in line with international standards and best practice.
Yes1 person thinks so
No0 people think not
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