China, India likely to be biggest shareholders in AIIB
The bank says it expects to be operational by year end, but some delegates are sceptical
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Singapore
CHINA is likely to hold a 25-30 per cent stake in the new Asian Infrastructure Investment Bank (AIIB), while India will be the second-biggest shareholder, delegates said on Friday after a three-day meeting of the bank's founding member-nations.
AIIB said in a statement that it expected to be operational by the end of the year. It said that the meeting in Singapore finalised the articles of agreement, which are expected to be ready for signing by the end of June, but did not give details. No details of the ownership structure were disclosed, but delegates told Reuters that China would likely take a 25-30 per cent stake in the bank, and India was likely to be the second-largest shareholder.
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