Bishnu Prasad Paudel to attend inaugural meeting of AIIB

, 2:23 PM IST

Kathmandu : Nepalese Finance Minister Bishnu Prasad Paudel will be leaving for China on Thursday to attend the first meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB), which will finance infrastructure projects in Asia.

The inaugural meeting of China-led multilateral development bank is scheduled from January 16 to 17, reported The Himalayan Times.

The founding member countries will announce the commencement of the operation of the AIIB which has authorised capital stock of $100 billion.

AIIB’s board members and the president will also be elected during the meeting.

China’s former vice minister for finance Jin Liqun is expected to be elected as AIIB’s first president.(ANI)