Beijing: China will hold a 30.34 percent stake in the Asian Infrastructure Investment Bank (AIIB), the Finance Ministry said on Monday, making Beijing the largest shareholder in a multilateral institution that will project the country's growing soft power. China will have 26.06 percent of the voting rights in the bank, a Chinese-led development bank that will rival institutions such as the World Bank and the Asian Development Bank. Countries defined as "within the region" will hold a 75 percent stake in the bank, the min

What are the implications of the Asian Infrastructure Investment Bank for the next U.S. president? (...) Currently, 57 countries are confirmed founding members. The United States stands alone.Critics of the U.S. decision not to join see Washington sidelined as allies jump on the AIIB bandwagon. 

One of the more controversial developments in the aid sector in recent times has been China's move to set up a multilateral development bank, the Asian Infrastructure Investment Bank (AIIB).

China has dramatically scaled up its global loan book over the past five years by dealing with countries largely ignored by Western lenders, whether for political reasons (Russia) or economic (Argentina). 

Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders.

For almost a year, China has been pitching an idea to its neighbors in Asia: a big, internationally funded bank that would offer quick financing for badly needed transportation, telecommunications and energy projects in underdeveloped countries across the region.