MOSCOW (Sputnik) — The Asian Infrastructure Investment Bank (AIIB) will commence operation in mid-January 2016, the AIIB's deputy head said Thursday.
According to Chen Huan, cited by the China's Xinhua news agency, the Bank's opening will be possible after India and Russia, two largest bank's shareholders after China, ratify the AIIB agreement in mid-December.
China ratified the agreement last month.
The AIIB is an international financial institution proposed by China to invest in infrastructure projects in the Asia-Pacific region. In October 2014, the bill establishing the bank was signed by 21 states. Currently, there are 57 prospective founding members in the financial organization.
