Kazakhstan will purchase shares of ABII in 5 installments during 5 years

Astana. July 20. Silkroadnews - Kazakhstan will buy shares of Asian Bank of Infrastructure Investments (ABII) in 5 installments over five years, reported KazTAG.
According to the ministry, the ABII share capital will be divided into paid shares ($20 billion) and shares payable on demand ($ 80 billion).
"In accordance with the Articles of Agreement, the number of votes allocated to the shares of each member-founder of ABII will be equal to the number of shares in the capital of ABII at the disposal of the founding members", - explains in the department.
"The issue of payment of the membership fee in ABII will be presented and discussed at the next meeting of the Republican Budget Commission", - says the ministry.
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.