Indonesia to Be Eighth-Largest AIIB Shareholder With $672 Million Stake

Jakarta Globe, Gayatri Suroyo & Fransiska Nangoy, Jun 28, 2015

Finance Minister Bambang Brodjonegoro, second left, is heading to Beijing on
 Monday to represent Indonesia as a founding member of AIIB. (Antara
Foto/Akbar Nugroho Gumay)

Jakarta. Indonesia will sign up as a founding member of the China-backed Asian Infrastructure Investment Bank, or AIIB, with an investment of $672.1 million paid over five years, the Finance Ministry said in a statement on Sunday.

Indonesia will be the eighth-largest shareholder in the AIIB, the statement said, without detailing what percentage its share would represent. Finance Minister Bambang Brodjonegoro is scheduled to travel to Beijing to sign the agreement on Monday.

The AIIB will begin with authorized capital of $50 billion, eventually to be raised to $100 billion.

Reuters