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China, India to be biggest AIIB shareholders

2015-June-5       Source: Global Times Net

China and India will become the top two shareholders in the Asian Infrastructure Investment Bank (AIIB), the Wall Street Journal (WSJ) reported on Thursday.

China and India will become the top two shareholders in the Asian Infrastructure Investment Bank (AIIB), the Wall Street Journal (WSJ) reported on Thursday.

China will be the biggest shareholder by holding a stake of around 30 percent in the AIIB, followed by India which will own an 8 percent stake, the report said, citing an unidentified Indian official.

As for voting rights, India will have around 7.5 percent, the newspaper said.

The quotas were determined on the basis of the AIIB founding members' GDP and their purchasing power parity, according to the report.

The report came after a meeting attended by AIIB's 57 prospective founding members in late May. The three-day meeting in Singapore concluded discussions and finalized the Articles of Agreement (AOA) for the bank, but gave no details about the AIIB's ownership structure.

It is expected that the AOA would be ready for signing by the end of June and the AIIB would be operational by the end of this year, the AIIB said in a statement on May 22.

The WSJ report also fits with experts' estimation.

"Whether measured by nominal GDP or the purchasing power parity-adjusted GDP, it makes sense for China to be the biggest capital contributor and the most influential decision-maker among all the Asian members," Ma Tieying, an economist with Singapore-based DBS Bank, told the Global Times in an earlier interview in May.

Editor: Chan

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