56 countries sign Asian investment bank to complete the agreement
Beijing on the 10th Nikkei Chinese news report, around China, established under the auspices of the Asia Infrastructure Investment Bank (Asian investment bank, AIIB) preparations, as a founding member to announce the participation of 57 countries, in addition to the Philippines 56 countries until December 9 to complete the signing of the agreement. Asian investment bank is expected to start as planned in the year 2015, and the opening ceremony was held in mid-January 2016. Financing is expected to start before the spring of the same year, the first annual financing scale is expected to reach about $ 2 billion.
The first pen financing is expected from spring to summer 2016 implementation. We are discussing with the World Bank to promote [microblogging] and other syndicated loans. The first year of financing will be 15 billion to $ 2 billion, while the average size of the financing of the first 5 to 6 years is expected to reach 100 billion to $ 15 billion.
In order to raise funds and issue bonds in the financial markets we need to have a credit rating. But it takes a long time, so initially considered unrated bond issue.
According to reports, Asian investment bank, deputy head of the Preparatory Working Group Chen Huan said it has the support of the Korean financial authorities, it is possible through the issuance to the Korean government and the country's financial institutions as the recipient of bonds in order to raise funds.
In the 57 countries participating in the announcement, 50 countries signed the agreement at the end of June. While the remaining seven countries, six countries have now completed the signing. Only the Philippines has not yet signed, if refused to sign before the end of 2015, will lose the status of a founding member of preferential treatment in the voice and so on.
On the one hand, more than 10 signatories to the agreement have been completed domestic ratification procedures. As long as capital contributions have been approved by the state more than 50% of capital as a whole, the Asian investment bank will be officially launched. Chen Huan on the 3rd of Chinese media that "Asian investment bank's major shareholders, India, Russia has said in mid-December this year, will be completed for approval. Accordingly, the Asian investment bank should be able to reach the middle of this month the opening of the statutory requirements."
Asian investment bank in mid-January 2016 held its first General Assembly and the Council, and also plans to hold the opening ceremony and the conference as a reporter of the first president of Jin Liqun.