Asian Infrastructure Investment Bank (AIIB)

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Overview:

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman recently attended the 7th Annual Meeting of the Board of Governors of AIIB via video conference.

About Asian Infrastructure Investment Bank (AIIB):

  • The theme of this year’s Annual Meeting was “Sustainable Infrastructure Toward a Connected World”.
  • What is AIIB? AIIB is a multilateral development bank that aims to improve economic and social outcomes in Asia.
  • Headquarters: Beijing, China.
  • Board of Governors: All powers of the Bank are vested in our Board of Governors, which is the highest decision-making body under our Articles of Agreement.
  • Membership: AIIB has 105 members. China is the AIIB’s largest shareholder with a 26.5% voting share. India is the second-largest, with 7.5%, followed by Russia, which has a 5.97% voting share.
    • India is a Founding Member of AIIB. India also has the largest project portfolio within AIIB.

 


Source : PIB