Twenty-one countries, including China, India and Singapore, signed a memorandum of understanding in Beijing in October 2014 to build the AIIB. Six other nations, including Indonesia and Saudi Arabia, joined the body until Feb. 9, 2015. As agreed, Beijing will be the host city for the headquarters.

The authorized capital of the AIIB is 100 billion U.S. dollars and the initial subscribed capital is expected to be around 50 billion dollars. The paid-in ratio will be 20 percent. Founding members have agreed that GDP will be the basic parameter in determining share allocation among member countries.

In March, nine other countries, namely Britain, France, Germany, Italy, Luxembourg, Switzerland, Turkey, Austria and South Korea, have so far applied to join the AIIB as founding members. The application deadline is March 31.