30 more countries apply for Asia Infrastructure Investment Bank
Thirty more countries have applied for joining the China-sponsored Asia Infrastructure Investment Bank (AIIB) apart from existing 57 founding members. The AIIB was officially established in 2015 with headquarters in Beijing, China’s capital. China is the largest shareholder with 26.6% voting shares. India is the second largest shareholder with 7.5% followed by Russia 5.93% and Germany with 4.5%. The US and Japan, however stayed away from joining the bank while most of the European countries have joined it.