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S. Korea: Would like to have 4-5% stake in AIIB


03-30-2015 11:42 BJT

South Korea would like to take a four to five percent stake in the China-initiated Asian Infrastructure Investment Bank, or AIIB, South Korean Deputy Finance Minister Choi Hee-nam said on radio Monday.

Choi said that since stakes of individual members will be based on economic size and other factors, South Korea's stake would be four to five percent. South Korea applied for the founding membership of the proposed bank last week. The bank now has more than 40 applications from prospective founding members.

China's finance ministry says concerned countries are presently in discussion to decide the draft by-laws of the bank, which is expected to start operation by the end of this year.

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