Arun Jaitley to attend AIIB annual meet in South Korea

Finance Minister Arun Jaitley will attend the annual meeting of China-led Asian Infrastructure Investment Bank (AIIB) to be held in mid-June in South Korea. AIIB aims to promote economic development of the region by supporting infra projects. India is the second-largest shareholder of AIIB, with 7.5 per cent stake after China which has 26.06 per cent voting shares. Russia and Germany have 5.93 per cent, 4.5 per cent stake, respectively.