AIIB is a multilateral development bank backed by China and is seen as a rival to the World Bank and Asian Development Bank (ADB). Consider the following statements about Asian Infrastructure Investment Bank:
Which of the above statements is/are correct?
AIIB is a multilateral development bank backed by China and is seen as a rival to the World Bank and Asian Development Bank (ADB). Consider the following statements about Asian Infrastructure Investment Bank:
Which of the above statements is/are correct?
The correct option is A 1 and 2 only
The AIIB, a modern knowledge-based institution, will focus on the development of infrastructure and other productive sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics, etc.
Headquarters: Beijing.
Members: Total there are 57 members, of which 37 are regional and 20 non-regional Prospective Founding Members (PFM).
Authorized capital: It will be of 100 billion US dollars. The initial subscribed capital will be around 50 billion US Dollar and the paid-in ratio will be 20 per cent.
Regional character of the Bank: Its regional members (Asian) will be the holding around 75 percent of shares i.e. they will be majority shareholders. They have been allocated their capital share on quota basis i.e. based on their economic size.
Voting share: For each member country it is based on the size of their economy and not on authorized capital share to the Bank.
Largest shareholders: China is highest contributor with 30.34 percent stake in authorized capital. It has 26.06 per cent of the voting rights along with veto powers for certain key decisions. India is second largest shareholder with 8.52 per cent stake and voting share of 7.5 per cent.
1 and 2 only
The AIIB, a modern knowledge-based institution, will focus on the development of infrastructure and other productive sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics, etc.
Headquarters: Beijing.
Members: Total there are 57 members, of which 37 are regional and 20 non-regional Prospective Founding Members (PFM).
Authorized capital: It will be of 100 billion US dollars. The initial subscribed capital will be around 50 billion US Dollar and the paid-in ratio will be 20 per cent.
Regional character of the Bank: Its regional members (Asian) will be the holding around 75 percent of shares i.e. they will be majority shareholders. They have been allocated their capital share on quota basis i.e. based on their economic size.
Voting share: For each member country it is based on the size of their economy and not on authorized capital share to the Bank.
Largest shareholders: China is highest contributor with 30.34 percent stake in authorized capital. It has 26.06 per cent of the voting rights along with veto powers for certain key decisions. India is second largest shareholder with 8.52 per cent stake and voting share of 7.5 per cent.
