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With reference to the Asian Infrastructure Investment Bank (AIIB), consider the following statements:
1. India is a founding member and the second largest shareholder in AIIB.
2. It is headquartered in Beijing, China.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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With reference to the Asian Infrastructure Investment Bank (AIIB), con...
Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the 7th Annual Meeting of the Board of Governors of AIIB via video conference.
- The theme of this year’s Annual Meeting was “Sustainable Infrastructure Toward a Connected World”.
- What is AIIB? AIIB is a multilateral development bank that aims to improve economic and social outcomes in Asia.
- Headquarters: Beijing, China.
- Board of Governors: All powers of the Bank are vested in our Board of Governors, which is the highest decision-making body under our Articles of Agreement.
- Membership: AIIB has 105 members. China is the AIIB’s largest shareholder with a 26.5% voting share. India is the second-largest, with 7.5%, followed by Russia, which has a 5.97% voting share.
- India is a Founding Member of AIIB. India also has the largest project portfolio within AIIB.
Hence both statements are is correct.
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With reference to the Asian Infrastructure Investment Bank (AIIB), consider the following statements:1. India is a founding member and the second largest shareholder in AIIB.2. It is headquartered in Beijing, China.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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