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ISA welcomes AIIB move
Industry Super Australia (ISA) has welcomed the Government's decision to make Australia a signatory to the Asia Infrastructure Investment Bank (AIIB) claiming it will unlock billions of dollars of infrastructure investment opportunities in the region.
Commenting on the Government's move ISA'S chairman, Peter Collins, said it would deliver a huge fillip for Australian expertise in funds management, engineering, construction, architecture, and legal services which could be widely applied to projects financed by the AIIB.
Noting that industry superannuation funds were leading investors in infrastructure, Collins said the activities of the AIIB would not only provide new opportunities to deploy capital but also export the funds' know how in connecting pension savings to bankable projects.
"The resources of the Asian Infrastructure Investment Bank will increase scope for pension and sovereign wealth funds to invest in long-term, productive assets in the region," Collins said.
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