China’s Influence on AIIB May Be Outsized

China could have outsized influence over a new Beijing-backed international development bank under a proposed shareholding structure likely to be discussed at a meeting of member nations in Washington this week, sources say.

The group will meet on the sidelines of the annual meetings of the International Monetary Fund and World Bank in the U.S. capital, said an Indian government official familiar with the plan. India was one of the first nations to join the new bank.

China has proposed that Asian nations own three-quarters of the Asian Infrastructure Investment Bank (AIIB), a larger overall stake than would be warranted were ownership decided by economic weightings alone, given European heavyweights Germany, France, Britain and Italy are also members.