The President of China has launched the Asian infrastructure investment Bank

The President of China has launched the Asian infrastructure investment Bank


BEIJING, 16 January. /Corr. Anton Marinin/. Chinese President XI Jinping in Beijing in a solemn ceremony gave a start to the Asian infrastructure investment Bank (AIIB). In the second half of the day is to be held meeting of the Board of governors of the Bank, during which the President will be elected and the Board of Directors of this financial institution. The Russian delegation included the Minister of economic development of Russia Alexey Ulyukaev and Deputy Minister of Finance Sergey Storchak.

“Today, the Asian infrastructure investment Bank begun its work. The establishment of the AIIB will allow us to improve opportunities for infrastructure construction in Asia and contribute to regional economic integration. The formal establishment of AIIB is of particular importance to reform of global economic governance. We hope that member countries will increase their investments. AIIB will follow an open position and will be open for contacts with other economic structures of the region,” said XI Jinping.

The President of AIIB

Former Deputy Minister of Finance of China Jin Lijun was appointed President of the AIIB and that the Finance Minister of China Lou Jiwei. was elected Chairman of the Board of governors at the inaugural meeting of the Council of governors. It was reported by Lou Jiwei. in his opening remarks at the opening ceremony of the AIIB.

“Today at the inaugural meeting of the governors I was elected Chairman of the Board of governors of the Bank. Also, were appointed deputies. It was decided on the appointment of Jin Lizzana President of AIIB, ” said Lou Jiwei..

China is ready to assist in the development

As stated by XI Jinping, China will allocate $50 million to assist the countries-founders of AIIB to develop their proposals for infrastructure projects.

“Being the initiator of the AIIB, China is ready to assist in the development of the Bank. In the near future, China is ready to allocate $50 million to create a Fund for development assistance projects for less developed member countries in developing infrastructure projects,” said XI Jinping.

Asian infrastructure investment Bank

The establishment of the AIIB was initiated by China. The key mission of the Bank is overcoming the infrastructure constraints of economic development of countries in the Asian region. The scope of activities of the Institute will include a wide range of financial services: loans, equity, guarantees, technical assistance.

See also

Sokolov: infrastructure projects of the Russian Federation can apply for investment AIIB at $50 billion

Russia became the owner of 65 362 thousand shares of the Bank, having received a 5.92% of the vote. This allowed her to become the third in number of shares and votes country after China and India, which have received 26,06% and 7.5% of the vote respectively. The top five co-founders in volumes of investments from 57 countries are China, India, Russia, Germany and South Korea.

According to the agreement establishing the AIIB, its authorized capital was $100 billion, the Share of Asian States in an amount not to exceed 75%, while participants from other world regions account for 25% of the capital. The authorized capital is divided into 1 million shares at $100 thousand each. The headquarters of the AIIB will be located in Beijing.