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prelims Test Series 2019
बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
AIIB Takes Shape in Founders Meet
Jul 01, 2015

On 29June, India and 49 other founding members of the Asian Infrastructure Investment Bank (AIIB) signed articles that determine each country’s share and the lender’s initial capital. The remaining seven founding members can sign the agreement before December 2015.

  • The signing ceremony took place in Beijing at the Great Hall of the People.

  • The Bank will be headquartered in Beijing, and will have an initial authorised capital stock of  100 billion dollar.

  • Reflecting regional character of the Bank, its regional members will be the majority shareholders, holding around 75 percent of shares. 

  • The Bank’s foundation will be built on international best practices and the lessons and experiences of existing multilateral development banks and the private sector.

  • With Japan, the other large Asian economy besides China, opting out of the Bank’s membership, India is its second largest shareholder with a stake of 8.52 per cent and voting share of 7.5 per cent.

  • The voting shares are based on the size of each member country’s economy and not contribution to the Bank’s authorised capital. China’s shareholding is 30.34 per cent and it has retained 26.06 per cent of the voting rights with veto powers for certain key decisions.

  • Apart from China and India, some of the countries which signed the agreement include Australia, Bangladesh, Brazil, Cambodia, Finland, France, Germany, Italy, Jordan, Nepal, Netherlands, New Zealand, Norway, Pakistan, Portugal, Republic of Korea, Russia, Saudi Arabia, Singapore, Spain, Sri Lanka, Sweden, Switzerland, and the U.K.

  • The AIIB is expected to become operational by the end of the year.

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