JEJU ISLAND, South Korea, June 16 (Xinhua) -- South Korea has agreed with the China-initiated Asian Infrastructure Investment Bank (AIIB) to invest 8 million U.S. dollars in the AIIB's special fund.
According to South Korea's finance ministry official on Friday, Kim Dong-yeon, the country's finance minister who doubles as the deputy prime minister for economic affairs, met with AIIB President Jin Liqun Thursday night.
During the meeting, Kim and Jin agreed to South Korea's contribution of 8 million dollars in paid-in capital to the AIIB Project Preparation Special Fund, which aims to offer initial capital to the infrastructure projects of developing countries.
Together with the AIIB, South Korea co-hosted the second annual meeting of the AIIB's board of governors in the country's southern resort island of Jeju. The first meeting was held in Beijing last year.
