Q. Consider the following statements regarding “Asian Infrastructure Investment Bank (AIIB)”:
1.It has authorized capital of US 100 billion dollars and subscribed capital of USD 50 billion.
2.China is the largest shareholder in AIIB.
Which of the statements given above is/are correct?
Explanation: Asian Infrastructure Investment Bank is a multilateral financial institution which brings countries together to address the daunting infrastructure needs across Asia.
- The membership is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
- It has authorized capital of US 100 billion dollars and subscribed capital of USD 50 billion.
- China is the largest shareholder in AIIB with a 26.06% voting power, followed by India with 7.62% and Russia with 5.92% voting power.