China-backed AIIB expects to be operational by year-end

SINGAPORE (Reuters) – The China-backed Asia Infrastructure Investment Bank said on Friday it expected to be operational by the end of this year, after a three-day meeting of prospective member nations in Singapore.

AIIB said the meeting finalised the Articles of Agreement, which are expected to be ready for signing by the end of June. (

China will likely take a 25-30 percent stake in the bank and India is likely to be the second-largest shareholder, delegates attending the meeting said earlier.

(Reporting by Rujun Shen; Editing by Raju Gopalakrishnan)

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