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Asian Infrastructure Investment Bank (AIIB)

Posted on : 07 Feb 2020

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  • The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia-Pacific region.
  • The China-led Asian Infrastructure Investment Bank (AIIB) has officially approved 57 nations as prospective founding members, with Sweden, Israel, South Africa, Azerbaijan, Iceland, Portugal and Poland the latest to be included.
  • Countries accepted as AIIB founding members include China, India, Malaysia, Indonesia, Singapore, Saudi Arabia, Brunei, Myanmar, the Philippines, Pakistan, Britain, Australia, Brazil, France, Germany and Spain.
  • Founding members have priority over nations that sign up later because they will have the right to set the rules for the bank.

Article Related Questions

  1. Consider the following statements regarding Asian Infrastructure Investment Bank (AIIB)
    1.The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by China.
    2.The purpose of the bank is to provide finance to infrastructure projects in the Asia-Pacific region.
    3.United Kingdom became the first of G7 nations to join the bank
    Which of the statements given above is/are correct?

  2. 1.1 and 3 only

    2.2 only

    3.2 and 3 only

    4.1, 2 and 3

    Right Ans : 1, 2 and 3

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