The agreement establishing the Asian infrastructure investment Bank was signed by representatives of 57 countries founding, its activities will be aimed at promoting sustainable economic development.
MOSCOW, Nov 17. The RF government approved the draft Federal law on ratification of the articles of agreement of the Asian infrastructure investment Bank (AIIB), the message of the press service of the Cabinet of Ministers.
The decision was taken following the meeting of the government held on Monday.
“The agreement provides for the establishment of a multilateral financial institution — the AIIB, whose activities will be aimed at promoting sustainable economic development and financing infrastructure projects in Asia”, — stated in the message.
Membership in the Bank shall be open to all States that are currently participating in the International Bank for reconstruction and development and Asian development Bank. The headquarters of the AIIB will be located in Beijing.
The agreement on establishing the AIIB was signed on June 29, representatives of 57 countries-founders of the Bank. The largest share of votes in the Board of Directors of the Bank received China, India and Russia. The authorized capital of AIIB will be at the initial stage of 50 billion dollars, and then will be increased to $ 100 billion.