News

The AIIB suspends its activity with Russia

Tuesday 8 March 2022 14:45 CET | News

China-based Asian Infrastructure Investment Bank (AIIB) has decided to suspend all its activities related to Russia and Belarus as a consequence of the war in Ukraine.

According to an AIIB representative, the bank is actively monitoring the situation and evaluating its impact on its operations and on the economies of AIIB members. Under these circumstances, it has been decided that all activities in Russia and Belarus are suspended and under review.

Likewise, the AIIB has expressed its willingness to extend funding flexibly to support AIIB members who have been negatively affected by the war, directly or indirectly. Russia is the third most important member of the AIIB, with 5.97% of the voting rights and 6.7% of the entity's capital, only behind the 26.5% of the votes held by China with 30 .7% of the capital and 7.5% of the voting power of India, with 8.6% of the capital.


More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Russia Ukraine War, banking, banks, bank transfer
Categories: Banking & Fintech
Companies: Asian Infrastructure Investment Bank
Countries: China
This article is part of category

Banking & Fintech

Asian Infrastructure Investment Bank

|
Discover all the Company news on Asian Infrastructure Investment Bank and other articles related to Asian Infrastructure Investment Bank in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events