Monday, June 29, 2015

Asian answer to IMF

The AIIB will begin with authorized capital of $50 billion, eventually to be raised to $100 billion.

China is likely to hold a 25-30 percent stake, while India will be the second-biggest shareholder with a possible 10-15 percent, delegates at a meeting to finalise the new bank's articles of agreement told Reuters in May.

Germany plans to take a 4.1 percent stake to become the fourth-biggest member after China, India and Russia, according to a finance ministry draft document seen by Reuters earlier this month.

Australia said last Wednesday it would contribute A$930 million ($719.36 million) over five years to become the institution's sixth largest shareholder.

Indonesia will be the eighth-largest shareholder in the AIIB with an investment of $672.1 million over five years, its finance ministry said on Sunday.

http://mobile.reuters.com/article/idUSKBN0P801520150628?irpc=932

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