Poland: Sejm unanimously votes to allow president to ratify AIIB deal

Sejm MPs voted unanimously Fri. to allow the president to ratify the agreement establishing the Asia Infrastructure Investment Bank (AIIB). In its backing, the Law and Justice (PiS) government is supporting the position of its predecessor, the Civic Platform (PO)-led government. The AIIB has been agreed to already by 57 states, with Poland to be one of the co-founding members. Poland’s share will be USD 832mn (0.8% of the bank’s capital). Poland is to be pay off USD 166mn of this in five rates in 2016-17, which won’t be part of the budget deficit. The Polish government hopes that Polish firms will be able to take part in infrastructure projects to be backed in Asia.

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