Brazil is the ninth largest shareholder of the Asian Infrastructure Investment Bank (AIIB), the first international financial institution established by China, according to state English-language newspaper China Daily.

With a stake of U$3.18 billion, Brazil is also the only country in South America amongst the 57 founders of the AIIB, 20 of which are nations from outside Asia.

Portugal, the other Portuguese-speaking country that on 29 June signed the AIIB founding agreement, becoming a founding member, has a share of around US$13 million.

China is the largest shareholder, with a stake of 29.78 percent, followed by India (US$8.37 billion) and Russia (US$6.54 billion).

Of the major world economies, only the United States, Canada and Japan are not part of the AIIB.

Proposed by Chinese President Xi Jinping, in 2013, the AIIB is due to be officially founded by the end of 2015 starting capital of US$100 billion.