Shareholders of Asian Infrastructure Investment Bank will be expanded

By the end of the year 30 more countries can join the bank

Baku. 1 June. REPORT.AZ/ Number of shareholder countries of the Asian Infrastructure Investment Bank (ABII) will increase by the end of 2016 years from 70 to 100. Report informs referring to the Russian TASS, ABII President Liqun Jin said on Tuesday: "About thirty countries waiting to join to ABII, twenty of them have declared their firm intention. It will make us a truly international financial institution."

Notably, creation of ABII was initiated by Chinese President Xi Jinping in 2013. The opening ceremony was held in Beijing on 16 January 2016. The key mission of the bank is to overcome the infrastructure constraints of economic development of Asian countries. The scope of activities of the Institute will include a wide range of financial services: loans, equity participation, guarantees, technical assistance.

According to the agreement on the establishment of ABII, its authorized capital amounted to 100 billion USD. At the time of the bank's establishment, 57 countries included in its composition. The largest shareholders of the bank then became to China, India and Russia, owning shares 30.34%, 8.52% and 6.66%. The share of Azerbaijan in the bank is 0.25% (245.1 million USD).

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