The governing Council will decide on the development strategy of the Asian infrastructure investment Bank and its statutes.
BEIJING, 16 Jan. The Minister of economic development of Russia Alexei Ulyukayev has joined the Board of governors of the Asian infrastructure investment Bank (AIIB), he reported about it to journalists following the meeting of the Board of governors of the Bank.
“This will be one of the largest financial organizations in terms of participants, countries, capital, in projects with which we will work”, — said Ulyukayev.
Representatives of 57 countries-founders of AIIB on Saturday in Beijing gave the official start of operation of the Bank. Russia is the third largest party in the Bank after China and India, having received a 5.92% of the vote. China and India possess 26,06% and 7.5% of the vote respectively.
ABII in a three-tier management system: Board of governors, the Board of Directors and Executive bodies.
The governing Council will take a policy decision on the development strategy of the Bank, its Charter documents. The Board of Directors, which is expected to be elected Sunday, will directly approve the projects will be the Board of Directors.
Scheduled task to pass the organizational path during the first quarter to reach the beginning of the project work.
The agreement on establishing the AIIB was signed on 29 June 2015. In August 2015, ex-Deputy Minister of Finance of China Jin Liqun was elected President of the Bank. The Statute of the new financial Institute formally came into force on 25 December 2015.
The headquarters of the Bank established to Finance infrastructure projects in the Asia-Pacific region, is located in Beijing. The authorized capital is 100 billion dollars.
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