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India and AIIB

  • IASbaba
  • July 31, 2020
  • 0
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India and AIIB

Part of: GS Prelims and Mains II – India and the World; International/Multi-lateral organizations 

About: 

  • The China-­backed Asian Infrastructure Investment Bank (AIIB) to function as an “apolitical” institution and to continue to support projects in India 
  • The latest loan for India was for $750 million, to support vulnerable households impacted by COVID­19 

Key facts: 

  • India has received the most funding of any country from the bank (received $4.35 billion) 
  • India is one among the 57 founding members in 2016 
  • India is its second-­largest shareholder (with 7.62% voting shares) after China (26.06%) 
  • Headquarters of AIIB is in Beijing 

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