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 ✓ UPSC's answer
- (b) 2 and 3 only
- (c) 1 and 3 only
- (d) 1, 2 and 3
Why the answer is (a)
• The AIIB, headquartered in Beijing, began operations in 2016 and had over 90 approved members by 2019 (over 100 today) — statement 1 is correct.
• Statement 2 is wrong: China is the largest shareholder (about 26% voting power); India is the second-largest (about 7.6%) and the biggest borrower.
• Statement 3 is wrong: members include non-regional countries such as the UK, Germany, France, Canada and Brazil.
• Hence 1 only, option (a).
Why the other options are wrong
- (b) 2 and 3 only
- Statements 2 and 3 are wrong: China is the largest shareholder and non-Asian members exist.
- (c) 1 and 3 only
- Statement 3 is wrong: AIIB has members from Europe, Americas and Africa.
- (d) 1, 2 and 3
- Statements 2 and 3 are wrong.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2019, held on 2 June 2019. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.