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Russian share in authorized capital of Asian Infrastructure Investment Bank to be $6.5 bln

June 29, 2015, 16:32 UTC+3
Russia will hold 65,362 shares in the bank, Deputy Finance Minister Sergey Storchak told TASS after the signing ceremony of the bank’s establishment
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© TASS Archive/EPA/Takaki Yajima

BEIJING, June 29. /TASS/. Russia’s share in the authorized capital of the Asian Infrastructure Investment Bank (AIIB) will total $6.5 bln, Deputy Finance Minister Sergey Storchak told TASS on Monday after the signing ceremony of the bank’s establishment.

"The Russia’s equity stake in AIIB will total $1.3 bln in money terms and $6.5 bln in the total authorized capital of the bank. That is, the capital to be paid equals 20%. Russia will hold 65,362 shares in the bank," Storchak said.

China will not have a veto right in the AIIB, Storchak went on to say.

"This is not a UN agency. Charter documents clearly determine all the decision-making in the bank. Parameters are indicated there, from simple majority to special majority and supermajority. An allegation the Chinese side will block development of the institute by relying on its stake in the capital have no substance," Storchak said.

Russia signed today the agreement on the Asian Infrastructure Investment Bank and received 65,362 shares in the bank and 5.92% of votes in the Bank. It becomes the third largest founder in terms of votes and shares after China and India, which hold 26.06% and 7.5% of votes accordingly.

AIIB will be headquartered in Beijing. The financial institute will start operations already by the end of this year.

 

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