The agreement establishing the Asian infrastructure investment Bank was signed on June 29, representatives of 57 countries-founders of the Bank. The AIIB will start operations in January next year.
MOSCOW, Dec 14. The President of Russia Vladimir Putin signed the law on ratification of the articles of agreement of the Asian infrastructure investment Bank (AIIB).
The relevant document posted on Monday on the official portal of legal information.
“To ratify the articles of agreement of the Asian Bank of infrastructure investments, signed in Beijing on 29 June 2015”, — stated in the document.
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.
Earlier it was reported that the AIIB will start operations in mid-January 2016.
