President Xi Jinping is to meet delegation heads from 57 founding members of the Asian Infrastructure Investment Bank in Beijing on Monday for a ceremony to sign the articles of agreement. The Ministry of Foreign Affairs spokesman Lu Kang said Premier Li Keqiang would issue written remarks for the event. The prospective members of the bank concluded discussions and finalised the articles of agreement for the AIIB after a three-day policy meeting in Singapore last month. The bank should be operational by the end of this year if the majority of members win approval from their own governments for the agreement. The establishment of the bank is part of the president's "One Belt, One Road" initiative, which is aimed at boosting trade and infrastructure links with nations stretching from Asia to Africa and Europe. But there are concerns over whether the bank should adopt strict risk assessment procedures because the developing nations that will apply for funding from it may not be able to repay the loans. European founding members of the bank are calling for the provision of supervisory seats to monitor lending to countries whose economies are in bad shape, a diplomatic source told the South China Morning Post . The countries proposed having the supervisory seats in response to concerns that some borrowers might not be capable of repaying loans and interest on time, the source said. In a commentary on the AIIB published by the official People's Daily yesterday, Finance Minister Lou Jiwei said the bank's governance would be of a high standard. He added that the members would soon submit proposals for the bank's first investment projects to ensure "it could get off to a good start". China would hold the biggest share of voting rights, Indonesia's envoy to Beijing told the Post earlier this month. However, the veto power was unlikely to be used, the envoy said. Foreign news agencies have reported that the bank will require a "super majority" of at least 75 per cent of votes to approve significant issues involving its structure, membership, and capital increases. China alone will contribute US$29.78 billion to the capital base of the bank, the reports said. This meant it would hold between 25 to 30 per cent of the total votes, which would be enough to block any major decision, the reports said.