NATIONAL

India is the second largest shareholder

With Japan, the other large Asian economy besides China, opting out of the Asian Infrastructure Investment Bank’s membership, India is the bank’s second largest shareholder with a stake of 8.52 per cent and a voting share of 7.5 per cent.

The voting shares are based on the size of each member country’s economy and not contribution to the bank’s authorised capital. China’s shareholding is 30.34 per cent and it has retained 26.06 per cent of the voting rights with veto powers for certain key decisions.

Apart from China and India, some of the countries which signed the agreement are Australia, Austria, Azerbaijan, Bangladesh, Brazil, Brunei Darussalam, Cambodia, Egypt, Finland, France, Georgia, Germany, Iceland, Indonesia, Iran, Israel and , Italy, Jordan, Kazakhstan, Kyrgyz Republic, Lao PDR, Luxembourg, Maldives, Malta, Mongolia, Myanmar, Nepal, Netherlands, New Zealand, Norway, Oman, Pakistan, Portugal, Qatar, Republic of Korea, Russia, Saudi Arabia, Singapore, Spain, Sri Lanka, Sweden, Switzerland, Tajikistan, Turkey, the U.A.E and the U.K.