21 Asian countries that are willing to join Asian Infrastructure Investment Bank (AIIB) as founding members signed the Memorandum of Understanding on Establishing AIIB.
The MOU specifies that the authorized capital of AIIB is USD 100B and the initial subscribed capital is expected to be around USD 50B. The paid-in ratio will be 20 percent.
AIIB will be an inter-governmental regional development institution in Asia. As agreed, Beijing will be the host city for AIIB’s headquarters.
It is expected that the Prospective Founding Members will complete the signing and ratification of the Articles of Agreement (AOA) in 2015 and AIIB will be formally established by the end of 2015.
The 21 countries are Bangladesh, Brunei, Cambodia, China, India, Kazakhstan, Kuwait, Laos, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, the Philippines, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan and Vietnam.
Source: http://news.xinhuanet.com
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