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The Philippines reaffirms commitment to AIIB

(Xinhua)    09:04, November 29, 2016

Presumptive Philippine president-elect Rodrigo Duterte speaks during a press conference in Davao Province, the Philippines, May 16, 2016. [Photo: Xinhua]

Philippine President Rodrigo Duterte's administration on Monday reaffirmed the country's commitment to the China-initiated Asian Infrastructure Investment Bank (AIIB).

Budget Secretary Benjamin Diokno told reporters that the Philippines is "ready to subscribe" this year and next year.

"Definitely, we want to be a member of the AIIB," he said.

The previous Philippine administration has approved the country's participation in the AIIB.

The indicative paid-in capital of the Philippines is 196 million U.S. dollars, payable in five years or 39 million U.S. dollars per annum.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Yuan Can, Bianji)

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