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NEGOTIATORS from 57 governments completed work yesterday on a charter for the Chinese-led Asian Infrastructure Investment Bank that is due to be signed in late June.
Agreement on the charter followed a three-day meeting in Singapore of envoys from proposed member governments, said the Finance Ministry in Beijing.
US allies Britain, New Zealand and France ignored Washington’s advice to remain aloof from the project, while India, Germany and Thailand have expressed interest in joining.
The bank is intended to finance investments in railways, cargo ports and other trade links.
Beijing has pledged to put up most of its initial $50 billion (£32bn) in capital and says that this total will rise to $100bn (£64bn).
