BEIJING, March 4 ― The China-backed Asian Infrastructure Investment Bank said it will suspend business related to Russia and Belarus, which have been hit with massive international sanctions over the Ukraine war. In a statement issued yesterday, the AIIB said that “in the best interests of the...
BEIJING, March 4 ― The China-backed Asian Infrastructure Investment Bank said it will suspend business related to Russia and Belarus, which have been hit with massive international sanctions over the Ukraine war.
The bank added that it was “actively monitoring the situation” in Ukraine and that management would do the “utmost to safeguard the financial integrity of AIIB”. Russia is among the AIIB's founding members and holds around a six percent vote in its operations. It also has a seat on the bank's board of directors.
Disclosures on the AIIB website show it has so far approved two Russia projects with financing of US$800 million.Two projects for Belarus have also been proposed, in the fields of public health and transport.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank halts all programs in Russia, Belarus | Malay MailWASHINGTON, March 3 — The World Bank said on Wednesday it had stopped all programs in Russia and Belarus with immediate effect, following the Russian invasion of Ukraine and “hostilities against the people of Ukraine.” In a statement, the multilateral development bank said it had not approved...
Read more »
UN General Assembly demands Russia withdraw from Ukraine | Malay MailNEW YORK, March 3 ― The UN General Assembly yesterday overwhelmingly adopted a resolution that “demands” Russia “immediately” withdraw from Ukraine, in a powerful rebuke of Moscow's invasion by a vast majority of the world's nations. After more than two days of extraordinary debate, which...
Read more »
Dr Mahathir: Russia-Ukraine conflict should be resolved through talks, arbitration | Malay MailBATU PAHAT, March 3 — The military conflict between Russia and Ukraine needs to be resolved through negotiations, arbitration or the International Court of Justice (ICJ), said former prime minister Tun Dr Mahathir Mohamad. He said that from before Malaysia had been fighting to outlaw wars. “We...
Read more »