Memorandum of understanding on establishing the Asian Infrastructure Investment bank signed

The Memorandum of Understanding on establishing Asian Infrastructure Investment Bank was signed by its participating countries in Beijing on October 24.

Ambassador Extraordinary and Plenipotentiary of Mongolia to the People’s Republic of China Ts.Sukhbaatar signed on behalf of the Government of Mongolia.

The signing ceremony was attended by delegates from such countries as Bangladesh, Brunei, Cambodia, India, Indonesia, Kazakhstan, Kuwait, Laos, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, the Philippines, Qatar, China, Singapore, Sri Lanka, Thailand, Uzbekistan and Vietnam. Following the ceremony, Chinese President Xi Jinping received delegates from 22 participating countries.

The Asian Infrastructure Investment Bank is expected to begin its operations in 2015 with its headquarters in Beijing.