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DAILY NEWS ANALYSIS

GS-II :
  • 25 June, 2020

  • 2 Min Read

Asian Infrastructure Investment Bank

Asian Infrastructure Investment Bank

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 multrilateral 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 has approved a $750 million loan to India to strengthen the country’s battle against the adverse impact of 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.

Source: TH


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