Australia to invest A$3b in AIIB

Updated: 2015-03-20 08:43


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SYDNEY -- Australia will join the Asian Infrastructure Investment Bank and potentially invest A$3 billion ($2.3 billion), local media reported on Friday.

The Australian cabinet's National Security Committee will approve joining the bank on Monday, according to leaked documents given to Fairfax Media.

The news follows Australia initially refusing to join the bank as a founding member citing concerns of governance.