Kazakhstan’s share in AIIB charter capital to make 729 bln 300 mln c.u.
Minister of National Economy Erbolat Dossayev made a presentation of the draft law. According to him, 57 countries-founders of the Bank including Kazakhstan signed the Articles of the Agreement on June 29, 2015 in Beijing. 37 signatories are Asian countries, while 20 are non-regional ones. The largest stakeholders are China, India and Russia. “The aim of the Bank is to render assistance in economic development and improvement of infrastructure interaction in Asia through investing in infrastructure and other industrial projects. Priority areas of financing will be energy, transport, logistics, urban and rural infrastructure,” the Minister said.
The charter capital of the Bank will make 100 bln c.u. and will be divided into paid-in shares (20 bln c.u.) and callable shares (80 bln c.u.). The share of regional members will make 75% of the bank’s capital, and 25% of non-regional members. Thus, Asian countries will enjoy full voting status. The headquarters of the Bank will be located in Beijing.
As the Minister added, Kazakhstan’s share in the Bank’s capital will make 729 bln 300 mln c.u. or 0.7%. Paid-in capital will comprise 145 bln 900 mln c.u. It will be paid in 5 tranches by 28 bln 200 mln c.u.