Kazakhstan signed articles of agreement on establishment of Asian Bank of Infrastructural Investments

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BEIJING. KAZINFORM - Representatives of 57 potential founding countries of the Asian Bank of Infrastructural Investments took part in the ceremony of signing of the articles of the agreement on establishment of the bank in Beijing today.

The delegation from Kazakhstan was headed by Minster of National Economy of Kazakhstan Yerbolat Dossayev.

The articles of the agreement were signed by 50 founding countries. The other seven countries plan to sign the document by the end of 2015.

President of China Xi Jinping received heads of the delegations upon completion of the signing ceremony. Besides, the sides took part in the special ministerial meeting of the Asian Bank of Infrastructural Investments.

The articles of the agreement were signed within the adopted by 22 states of the memorandum on establishment of the Asian Bank of Infrastructural Investments as of October 24, 2014.

The main purpose of the establishment of the bank is assistance in infrastructural development and growth of the wellbeing of Asia and financing of social and economic projects in the region.

The potential of the bank is expected to be used for implementation of the strategy "Economic Belt of the Silk Road" initiated by President of China Xi Jinping.

The headquarters of the bank will be located in Beijing and the nominal capital is planned to be USD 100 bln.

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