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Prepared by the Russian Finance Ministry.
The directive approves the draft Articles of Agreement of the Asian Infrastructure Investment Bank (hereinafter Articles of Agreement, AIIB). The Russian Finance Ministry has been entrusted with signing the Articles of Agreement for the Russian Federation.
Membership in the AIIB is open to all countries that are members of the International Bank for Reconstruction and Development or the Asian Development Bank. AIIB’s statutory documents stipulate that its regional shareholders (37 countries, including Russia) will control 75 percent of its capital, while extrarregional countries (20 countries, including Brazil, Germany, France and the UK, among others) will hold a 25 percent stake in AIIB’s capital.
AIIB will have a three-tier corporate governance system: the Board of Governors, the Board of Directors (of whom nine will be elected by the Governors representing regional members and three, by the Governors representing non-regional members), the President and Vice Presidents.
The AIIB will have its headquarters in Beijing, China.
The decision will help to make the Russian Far East and territories bordering China one of the bank’s main “zones of responsibility.” The wide range of financial instruments AIIB will offer (loans, shares in capital stock, financial guarantees and technical assistance) will allow Russian regional authorities and corporate entities to secure financing in the form best suited to the type of infrastructure in question.
After the signing, the Articles of Agreement are subject to ratification, as they contain rules other than those stipulated by Russian legislation.