With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements:AII

Question

With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements:AIIB has more than 80 member nations.India is the largest shareholder in AIIB.AIIB does not have any members from outside Asia.Which of the statements given above is/are correct?

Accepted Answer

Statement 1 is correct and Statement 3 is not correct: It is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Currently, it has 97 approved members with India as a founding member.Statement 2 is not correct: India is the second largest shareholder in AIIB with 7.5% voting shares while China holds 26.06% voting shares being the largest.