AIIB to be up and running by year’s end as China and India tipped to be biggest stakeholders
Asian nations tipped to own up to 75 per cent of bank, with China and India biggest stakeholders
The China-led Asian Infrastructure Investment Bank (AIIB) aims to be up and running by the end of the year, delegates from the institution's 57 founding members said on Friday, wrapping up a three-day policy meeting in Singapore.
China's stake in the lender would probably be about a quarter and India would be the second-biggest shareholder, the delegates said.
Delegates also put the finishing touches to the AIIB's articles of agreement, which were expected to be ready for signing by the end of next month, according to a statement by the bank's interim multilateral secretariat.
The AIIB would be operational by the end of this year, the statement said.
The meeting was the fifth round of talks since the bank was mooted in October.
China's share of the US$100 billion lender would be less than 30 per cent, an unnamed Asian delegate was quoted by Reuters as saying, while another delegate said India would account for between 10 and 15 per cent.
In all, Asian countries are expected to own between 72 and 75 per cent of the bank, while nations from Europe and elsewhere would account for the rest.