With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements: 1. AIIB has more than 80 member nations. 2. India is the largest shareholder in AIIB. 3. AIIB does not have any members from outside Asia. Which of the statements given above is/are correct?
- A. 1 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Answer: A
Explanation
Statement 1 is correct and statement 3 is not correct: It is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond. Currently it has 97 approved members with India as a founding member. Statement 2 is not correct: India is the second largest shareholder in AIIB with 7.5% voting shares while China holds 26.06% voting shares being the largest.