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Switzerland to take part in founding of AIIB bank

OWoN: The Swiss are in. Damn right they are sick to the teeth of US games. No Banks want US accounts too much trouble.

Switzerland to take part in founding of AIIB bank

By Alice Baghdjian
20 March 2015

Switzerland will participate in the establishment of a new international development bank backed by China, along with several other western European countries, the Swiss government said on Friday.

The Alpine nation will become a prospective founding member of the Asian Infrastructure Investment Bank (AIIB), subject to approval by the existing signatories, the government said in a statement.

The AIIB was launched in Beijing last year to support investment in Asia in transport, energy, telecommunications and other infrastructure. It is seen as a rival to the Western-dominated World Bank and a major plank in spreading China's "soft power".


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