What is Asian Infrastructure Investment Bank (AIIB)?
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region.
Where is the headquarter of Asian Infrastructure Investment Bank (AIIB)?
Asian Infrastructure Investment Bank (AIIB) is headquartered in Beijing.
How many countries are members of Asian Infrastructure Investment Bank (AIIB)?
Asian Infrastructure Investment Bank (AIIB) has 106 approved members from around the world.
When did the Asian Infrastructure Investment Bank (AIIB) started its operations?
The Asian Infrastructure Investment Bank (AIIB) was proposed by China in 2013 and the initiative was launched at a ceremony in Beijing in October 2014.
The bank started its operations on 25 December 2015.
What was the starting capital of Asian Infrastructure Investment Bank (AIIB)?
The starting capital of the bank was $100 billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about half that of the World Bank.
While 75% of the capital is from Asia, several non-Asian regions like Europe, North America, some East African and Latin American countries have also joined the bank as members.
How Asian Infrastructure Investment Bank (AIIB) is different from other major multilateral development banks?
Unlike most other multilateral development banks set up by advanced economies, AIIB is the first major multilateral development bank where principal contributors are the borrowing members themselves.
It received the highest credit ratings from the three biggest rating agencies in the world, and is seen as a potential rival to World Bank and IMF.
PRACTICE QUESTIONS
QUES 1 . Consider the following statements with respect to Asian Infrastructure Investment Bank (AIIB)
1 . The capital of the bank is $100 billion, which is more than the capital of the Asian Development Bank.
2 . It is headquartered in New Delhi.
Which among the above statements is/are correct?
a . 1 only
b . 2 only
c . Both 1 and 2
d . Neither 1 nor 2
Answer –d
QUES 2 . Consider the following statements with respect to Asian Infrastructure Investment Bank (AIIB)
1 . The bank was proposed by India in 2013.
2 . It has 106 approved members from around the world.
3 . It is seen as a potential rival to World Bank and IMF.
Which among the above statements is/are correct?
a . Only 2
b . Only 3
c . 1 & 2
d . 2 & 3
Answer –d
