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Next To China, India Is AIIB’s Biggest Shareholder

Next To China, India Is AIIB’s Biggest Shareholder
Goa Dec 09 Shahnawaz Sid / Flickr CC BY 2.0


Next To China, India Is AIIB’s Biggest Shareholder

The new China-led Asian Infrastructure Investment Bank (AIIB) will have India as its second largest shareholder. This meant that China’s fellow BRICS nation will also control the second largest number of voting rights in the bank.

A report by the Wall Street Journal, citing an unidentified source, states India’s controlling stake in AIIB will translate to 8 percent overall, while voting rights could reach 7.5 percent. China’s shares in AIIB is around 30 percent. The official said it was a no-brainer for China to lead the bank “given the large size of its economy.”

The official added they have recently finalized in Singapore the shareholdings and voting rights of all founding members of the bank. AIIB has 57. Their shareholdings and voting rights were based on their respective gross domestic products and purchasing power parity.

With this, India will now urge the acceptance and ratification of the draft article that will formalize India’s agreement to join the AIIB. “I don’t see any difficulty in India joining the bank as we need immense funds to build the country’s poor infrastructure,” the official noted.

AIIB’s authorized capital will be $100 billion. All members need to pay 20 percent of their share capital over the next five years.

The bank’s founding members so far:

1)    Austria

2)    Australia

3)    Azerbaijan

4)    Bangladesh

5)    Brazil

6)    Brunei

7)    Cambodia

8)    China

9)    Denmark

10) Egypt

11) France

12) Finland

13) Georgia

14) Germany

15) Iceland

16) India

17) Indonesia

18) Iran

19) Israel

20) Italy

21) Jordan

22) Kazakhstan

23) South Korea

24) Kuwait

25) Kyrgyzstan

26) Laos

27) Luxembourg

28) Malaysia

29) Maldives

30) Malta

31) Mongolia

32) Myanmar

33) Nepal

34) Netherlands

35) New Zealand

36) Norway

37) Oman

38) Pakistan

39) Philippines

40) Poland

41) Portugal

42) Qatar

43) Russia

44) Saudi Arabia

45) Singapore

46) South Africa

47) Spain

48) Sri Lanka

49) Sweden

50) Switzerland

51) Tajikistan

52) Thailand

53) Turkey

54) United Arab Emirates

55) United Kingdom

56) Uzbekistan

57) Vietnam


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