ATC221209: Report of the Select Committee on Finance on the Agreement of South Africa’s membership to the Asian Infrastructure Investment Bank (AIIB), dated 09 December 2022

NCOP Finance

Report of the Select Committee on Finance on the Agreement of South Africa’s membership to the Asian Infrastructure Investment Bank (AIIB), dated 09 December 2022.

 

The Select Committee on Finance, having considered the request for approval by Parliament on the Agreement of South Africa’s membership to the Asian Infrastructure Investment Bank (AIIB), responds as follows:

 

The Committee expresses its strongest disapproval that this agreement was sent to the National Council of Provinces (NCOP) so late and urges the National Treasury to avoid this in future. The majority of Committee members only agreed to process this agreement and approve of it because the deadline to do so is 31 December 2022 and the failure to do so will have major financial, economic and political consequences. 

 

The Chairperson will write to the Minister of Finance, the Director General of National Treasury, the NCOP Chairperson, the NCOP Chief Whip and the NCOP Chairperson on Committees’ Oversight to express the Committee’s fundamental dissatisfaction with the process.

 

With these strong reservations, the Committee recommends that the House, in terms of section 231 (2) of the Constitution, approves the said Agreement.

 

 

The Democratic Alliance (DA), Economic Freedom Fighters (EFF) and Freedom Front Plus (FF+) reserve their position.

 

 

Report to be considered