Switzerland became member of AIIB

Baku. 27 April. REPORT.AZ/ Switzerland became on Monday a ratifying adherent of the China-sponsored AsianInfrastructure Investment Bank (AIIB), making the confederation the 37th country to complete the membership process.

Report informs referring to foreign media having submitted its ratification document, Switzerland will now be able to fully participate onthe board of governors and have access to the bank's board of directors.

The country will also be entitled to have its say in the institution building process of the bank.

The confederation's stake in the bank's $100 billion capital stock will amount to a total of$706,4 million, to be paid in five annual installments.

Switzerland's voting power (0.8745 percent) will yield more clout than its financial inputthrough the country's basic and founding member votes.

The Swiss Federal Council has nominated federal councillors Johann N. Schneider-Ammannand Didier Burkhalter in the capacity of governor and alternate governor of the bank.