The Hong Kong Special Administrative Region (SAR) and the the Asian Infrastructure Investment Bank (AIIB) reach an agreement on Monday to provide 10 million dollars to low-income countries.

Hong Kong Financial Secretary Chen Maobo and Jin Liqun, president of the Asian Infrastructure Investment Bank, witness the signing of the AIIB Project Preparation Special Fund Contribution Agreement between the Hong Kong SAR and the AIIB on October 22, 2018. (Photo: CRI online)

On June 24, 2016, the “Special Fund for Project Preparation” was approved by the Board of Directors of the AIIB. In the framework of the $50 million funded by China, the fund was donated by members to support infrastructure projects in underdeveloped countries, according to Xinhua News Agency.