Azerbaijan’s share in AIIB’s capital determined

 Azerbaijan’s share in AIIB’s capital determined
# 29 June 2015 13:37 (UTC +04:00)

According to Ministry of Finance, Xi Jinping expressed his confidence that the bank will have important role in poverty reduction and infrastructure development around the world.

The Articles of Agreement, which is the only document of founding and was agreed at the 4th and 5th meetings of the Prospective Founding Member (PFM) on April 27-28 in Beijing and May 20-22 in Singapore, has been signed by 50 of 57 founding members. On behalf of Azerbaijani government, Samir Sharifov signed the document.

Bank’s authorized capital is determined at $100 bln, of which 75% will be provided by the Asian countries. Share of countries are determined depending on their economy.

Azerbaijan’s share is 0.25% ($245.1 mln). The bank will be fully established by the end of 2015.

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THE OPERATION IS BEING PERFORMED