Canada to apply to join the Asian Infrastructure Investment Bank
Almaty. August 31. Silkroadnews – Canada filed a formal application for membership in the Asian Infrastructure Investment Bank (AIIB), TASS reported.
«The success of the economy of tomorrow requires us a strategic partnership and openness to the world. Canada is always looking for ways to create hope and opportunity for our middle class as well as for people around the world. Membership in the AIIB is an opportunity to do just that», Canadian Finance Minister Bill Morneau said at the joint press conference with the AIIB President Jin Liqun.
In his turn Jin Liqun welcomed Canada's decision, which he said «shows its confidence in the strong foundations the bank has built in our first few months».
The AIIB establishment was initiated by the Chinese President Xi Jinping in 2013. Currently its membership includes 57 countries, among which 20 are non-regional states.
According to the agreement on the AIIB establishment, its authorized capital amounted to $100 billion. Russia became an owner to 65 thousand 362 shares of the bank, having received 5.92% of votes. It allowed Russia to rank the third in number of shares and votes after China and India, who received 26.06% and 7.5% of the votes respectively. The top five co-founders in terms of investments among 57 countries are China, India, Russia, Germany and South Korea.
