25 June, 2020
2 Min Read
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Its HQ is in Beijing, China.
It is established by a multilateral treaty - AIIB Articles of Agreement. India joined AIIB in 2016 as a regional member of the Bank. Further, 14 of the G-20 nations are AIIB members including France, Germany, Italy and the United Kingdom.
China is the largest shareholder in AIIB with a 26.06% voting power, followed by India with a 7.62% voting power. Recently, the AIIB approved a $750 million loan to India to strengthen the country’s battle against the adverse impact of the Covid-19 pandemic on poor and vulnerable households. The loan is co-financed by the AIIB and the Asian Development Bank.
It aims to ensure economic resilience to prevent long-term damage to productive capacity, including human capital.
Rare Earth Elements The Confederation of Indian Industry (CII) has urged the government to encourage private mining in the sector and diversify supply sources in light of India's reliance on China for rare earth minerals imports. Despite having 6% of the world's rare earth reserves, India produces only 1% of global output and import
Rooftop Solar Installations According to Mercom Research India, rooftop solar capacity installations in India fell 29% to 320 megawatts (MW) in July-September 2022. What are the Results? Cumulative Installations: As of the end of the third quarter of 2022, cumulative rooftop solar (RTS) installations stood at 8.3 GW. Gujarat overtook
Plastic's Life Cycle According to a recent document titled "The Plastic Life-Cycle," India is not properly collecting and recycling its polymer waste. The document emphasized that the problem will not be solved unless the entire life cycle of plastic, from source to disposal, is considered as the root cause of the pollution it
Russia’s Advanced Fuel Option for KKNPP Rosatom, Russia's state-owned nuclear energy corporation, recently offered a more advanced fuel option to India's largest nuclear power plant in Kudankulam (KKNPP), Tamil Nadu. It will be able to run its reactors for an extended two-year cycle without stopping to load new fuel.
Project Great Indian Bustard The Supreme Court (SC) recently requested that the Centre review the concept of 'Project Great Indian Bustard (GIB)' to save endangered birds. Important Points: The Supreme Court established a three-member committee to evaluate the feasibility of laying high-voltage underground power cables. T
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