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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?
Explanation
The correct answer is option A (1 only).
**Statement 1 is correct**: AIIB has a membership of 103 nations [85 members (including India) + 18 prospective members][2], which is more than 80 member nations. More recent sources indicate even higher membership numbers.
**Statement 2 is incorrect**: China dominates AIIB[3], making China, not India, the largest shareholder in the bank. The idea of establishment of such bank was proposed by China to provide support and improvement in infrastructure building in the Asia-Pacific region[2], which further confirms China's leading role.
**Statement 3 is incorrect**: Due to the discontent in the West-dominated multilateral bodies such as IMF and World Bank, many of their members are joining AIIB[2]. This indicates that AIIB has members from outside Asia, including Western nations. The United States and Japan are not members of AIIB[3], but this doesn't mean all non-Asian countries have stayed out—many European and other nations have joined.
Therefore, only statement 1 is correct.
Sources- [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > ASIAN INFRASTRUCTURE INVESTMENT BANK (AIIB) > p. 532
- [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > ASIAN INFRASTRUCTURE INVESTMENT BANK (AIIB) > p. 532
- [3] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > ASIAN INFRASTRUCTURE INVESTMENT BANK (AIIB) > p. 533
PROVENANCE & STUDY PATTERN
Guest previewThis is a classic 'Comparative Institutions' question. It rewards standard textbook reading (Singhania/Vivek Singh) over random current affairs. The core test is distinguishing between the 'Name' (Asian) and the 'Nature' (Global membership), and knowing the hierarchy (China vs. India).
This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.
- Statement 1: How many member nations does the Asian Infrastructure Investment Bank (AIIB) have?
- Statement 2: Which country is the largest shareholder of the Asian Infrastructure Investment Bank (AIIB) by subscribed capital?
- Statement 3: Which Asian Infrastructure Investment Bank (AIIB) member countries are from outside Asia?
- Gives an explicit numeric total for AIIB membership: 103 nations.
- Includes a bracketed breakdown that supports the presented total (an 85 + 18 composition).
- Is a direct descriptive line about AIIB's present membership size.
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