Kazakhstan will hold 0.73% stake in Asia Bank of Infrastructure Investments

Almaty. July 3. Silkroadnews - the Republic of Kazakhstan will own 0.7293% of the shares of the Asian Bank of Infrastructure Investments (ABII), reports KazTAG.
According to media reports, the authorized capital of the bank will amount to $100 billion. It is divided into 1,000,000 shares with a value of $100 thousand each. This means that the share of Kazakhstan in the authorized capital of the bank will amount to 0.7293% worth $729.3 million.
The largest investors are China - $29.78 billion, India - $8.37 billion and Russia - $6.54 billion.
"The list of projects for Kazakhstan will be formed and sent to the bank after its official operation probably in early 2016", - said the department.
The main purpose of ABII is to promote infrastructural development and welfare in Asia, as well as the financing of socio-economic projects in the region. The potential of the bank will be used to implement the strategy of "economic belt of the Silk Road", initiated by China.
The company's headquarters will be located in Beijing, the registered capital will amount to $100 billion. It is expected that ABII will be operational from the beginning of 2016.