KUWAIT, Dec 4 (KUNA) -- Kuwait Investment Authority (KIA) signed an Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB).
KIA said in a press statement, on Friday, that KIA managing director Bader Mohammad Al-Saad signed the agreement on behalf of the Kuwaiti government at the Chinese Ministry of Foreign Affairs in Beijing.
The signing ceremony was attended by Kuwaiti Ambassador to China Mohammad Saleh Al-Thwaikh, representative of KIA office in Beijing Abdulrazaq Al-Baijan.
The ceremony was attended by Deputy Director General of the legal treaties Department of the chines Foreign Ministry An Sun and representatives from finance ministry and AIIB.
Kuwait, represented by KIA, is one of the early founders of AIIB and it has contributed in all stages of its establishment.
AIIB capital amounts to USD 100 billion with shareholders of 57 countries; quotas of each country are distributed according to the size of its GDP.
The agreement will be presented to Kuwait National Assembly for ratification in accordance with the constitution.(end)