Representatives from a total of 57 countries signed up to the newly established Asian Infrastructure Investment Bank (AIIB) at a ceremony in Beijing today. China, India and Russia are the three largest stakeholders with 26.06%, 7.5% and 5.92% respectively. The bank will have an authorised capital of $100bn divided into one million shares of $100,000 each, with its charter stating that participating countries from Asia should have no more than 75% of equity.
Source: KP