Question

UPSC Prelims 2019 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?

1. 1 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Answer (Detailed Solution Below)

Option 1: 1 only

Detailed Solution

Explanation:

- Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that enables clients to build ‘Infrastructure for Tomorrow’ (i4t) and also focuses on investments in other productive sectors that seek to foster sustainable economic development, create wealth and improve infrastructure connectivity. It was officially launched in 2014 by China, headquartered in Beijing, China.
- AIIB has 105 members - 92 Full Members and 13 Prospective Members. So, statement 1 is correct.

China is the largest shareholder in AIIB. So, statement 2 is not correct.

Out of the total of 105 member nations,

Regional member nations (from Asia) - 47
Non-Regional member nations (from outside Asia) - 45
Prospective member nations - 13

So, statement 3 is not correct.

Therefore, option (1) is the correct answer.

Subject: Economics | Economic Organisations and Conventions

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