Switzerland is the 37th country to have completed its membership of the bank. Other countries to have done so include the bank’s three largest shareholders, China, India and Russia, as well as non-regional countries including Germany, Denmark, Finland, Iceland, Israel, Luxembourg, Malta, the Netherlands, Norway, Austria and the UK. Switzerland’s stake in the bank’s capital amounts to USD 706.4 million, of which USD 141.3 million has yet to be paid. Its voting power is 0.87 per cent. With the submission of the ratification document Switzerland also paid the first of five instalments on the payable capital (amounting to USD 28.26 million).
The Federal Council has nominated federal councillors Johann N. Schneider Ammann and Didier Burkhalter to act as governor and alternate governor of the bank. Switzerland along with Denmark, Iceland, Norway, Poland, Sweden and the UK form a Constituency on the Board of Directors. The Constituency is currently represented on the Board by a British director. In the middle of the year Switzerland will be able to nominate an alternate director, which would see it well placed to influence the ongoing institution building process.
The AIIB was formally constituted at an inaugural ceremony held Beijing on 16 and 17 January. The most important founding documents have been adopted, key management positions filled and the bank has commenced operations. The aim of the AIIB is to promote sustainable, stable growth and improve lives across Asia. This should be achieved by financing infrastructure projects of key importance to the region’s development. The AIIB is likely to become an important new player in financing development in Asia. Membership of the bank strengthens Switzerland’s involvement and presence in Asia and also helps to open up new business prospects.
Address for enquiries:
Fabian Maienfisch, SECO Communications,
Tel. 058 462 40 20
FDFA Information Service, Tel. 058 462 31 53