THE Senate on Monday voted 20-1 to ratify the Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB) formalizing the Philippines’ entry to the Beijing-led multilateral lending institution. “With 20 affirmative votes, one negative vote and no abstention, Senate Resolution 241 Under committee report No. 11 is approved on third and final reading,” Senate President Aquilino Pimentel 3rd declared. Senator Loren Legarda, who chaired the hearing of the Sub-Committee on Foreign Relations for the treaty, sponsored the committee report last week. The Philippines signed the Articles of Agreement on December 31, 2015 in China.

Source: Manila Times December 05, 2016 17:25 UTC