26. Consider the following statements about Asian Infrastructure Investment Bank (AIIB):
1. AIIB is a multilateral development bank to fund infrastructure projects in Asia-Pacific region.
2. Germany is one of the founding members of it.
3. The bank is headquartered in Shanghai.
4. Russia is the second largest shareholder with 7.5% voting shares.
Which of the above statement(s) is/are correct?
26. Consider the following statements about Asian Infrastructure Investment Bank (AIIB):
1. AIIB is a multilateral development bank to fund infrastructure projects in Asia-Pacific region.
2. Germany is one of the founding members of it.
3. The bank is headquartered in Shanghai.
4. Russia is the second largest shareholder with 7.5% voting shares.
Which of the above statement(s) is/are correct?
The correct option is A Only 1 and 2
AIIB is a multilateral development bank backed by China and is seen as a rival to the World Bank and Asian Development Bank (ADB). The bank started to function in January 2016. The bank was established to fund various infrastructure projects including energy, transportation, urban construction and logistics as well as education and healthcare in Asia-Pacific region. China is the largest shareholder with 26.06% voting shares. India is the second largest shareholder with 7.5% voting shares followed by Russia 5.93% and Germany with 4.5%. The initiative gained support from 37 regional and 20 non-regional Prospective Founding Members (PFM) all of which have signed the Articles of Agreement that form the legal basis for the bank. The bank started operation after the agreement entered into force in December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock. Major economies that are not members include Japan and the United States.
Its headquarter is in Beijing, China
AIIB is a multilateral development bank backed by China and is seen as a rival to the World Bank and Asian Development Bank (ADB). The bank started to function in January 2016. The bank was established to fund various infrastructure projects including energy, transportation, urban construction and logistics as well as education and healthcare in Asia-Pacific region. China is the largest shareholder with 26.06% voting shares. India is the second largest shareholder with 7.5% voting shares followed by Russia 5.93% and Germany with 4.5%. The initiative gained support from 37 regional and 20 non-regional Prospective Founding Members (PFM) all of which have signed the Articles of Agreement that form the legal basis for the bank. The bank started operation after the agreement entered into force in December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock. Major economies that are not members include Japan and the United States.
Its headquarter is in Beijing, China
