Important Points to know about Asian Infrastructure Investment Bank (AIIB)

    Important Points to know about Asian Infrastructure Investment Bank (AIIB)
    Important Points to know aboutAsian Infrastructure Investment Bank (AIIB):
    Important points that we have to know about the Asian Infrastructure Investment Bank (AIIB) were given here, which will be more helpful for the candidates those who are preparing for the upcoming exams.


    1). Asian Infrastructure Investment Bank (AIIB) is aninternational financial institutionfocused oncrediting infrastructure construction in theAsian-Pacific region

    2). Wasproposed by China in 2013, supported by
    ·        37 – regional members
    ·        20 – non-regional members

    3). AIIBto compete with
    ·        World Bank of India
    ·        Asian Development Bank

    4). AIIBheadquarters inBeijing, China

    5). Initially consisted of
    ·        1 – Founding member(FM) – Burma
    ·        56 – Prospected Founding Members(PFM)

    6). General Secretary – Jin Liqun – FormerFinance Minister of China

    7). On July 2015,57 PFMs weresupposed to becomeFMs by
    ·        Signingthe60-Articles of Agreement in 2015
    ·        Ratifyingthe60-Articles of Agreement in 2015 or 2016

    8). 7-countries from the PFM didnot sign theArticles of agreement. They are
    ·        Denmark
    ·        Malaysia
    ·        Kuwait
    ·        Holland
    ·        Philippines
    ·        South-Africa
    ·        Thailand

    9). Shares are based on thesize of each member country’seconomy

    10). 3- categories of votes exist:
    ·        Basic votes: equal for all members and constitute 18% of the total votes
    ·        Share votes: equal to the number of shares
    ·        Founding Member votes: each FM gets 600 votes

    11). China is thehighest share holder with30.34%and voting share 26.06%

    12). India 2nd highest share holder with8.52%and voting share of 7.5%

    13). Russia 3rd highest share holder with6.66%andvoting share of 5.92%

    14). Maldivesis the smallest PFM

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