Currency converter
^
News Feed
News Search Topics
ОК
Use filter
You can filter your feed,
by choosing only interesting
sections.
Loading

Candidates for AIIB chief to present programs in Georgia’s Tbilisi

August 24, 2015, 10:41 UTC+3 MOSCOW
The candidate to be elected will hold the position on an interim basis until the financial institution, which will focus on funding infrastructure construction in the Asia-Pacific region
1 pages in this article
Meeting of delegates at the signing ceremony for the Articles of Agreement of the AIIB in Beijing (archive)

Meeting of delegates at the signing ceremony for the Articles of Agreement of the AIIB in Beijing (archive)

© Wang Zhao/Pool Photo via AP

MOSCOW, August 24. /TASS/. The candidates to head the Asian Infrastructure Investment Bank (AIIB) are due to present their programs in Georgia’s capital Tbilisi on Monday.

A source in the Russian delegation said the candidate to be elected will hold the position on an interim basis until the financial institution, which will focus on funding infrastructure construction in the Asia-Pacific region, is officially launched.

"The position is considered as an interim president, with the understanding that his position will transform to that of the first president upon the launch of the bank," the source explained.

Currently, there are two candidates for this post. China chose former Deputy Finance Minister Jin Liqun while Russia offered Vice President of Norilsk Nickel Andrey Bugrov.

The AIIB is expected to start operations in December 2015.

The agreement on setting up the Asian Infrastructure Investment Bank was signed by 57 countries in late June 2015 in Beijing. China holds 26.06% of votes in board of directors, India — 7.5% and Russia — 5.92%. The AIIB will be headquartered in China’s capital Beijing. The starting capital will stand at $50 billion and can be later increased to $100 billion.

Show more
In other media
Реклама
Реклама