Question
Consider the following statements regarding the Asian
Infrastructure Investment Bank (AIIB): 1. AIIB was established in 2016 with its headquarters in Beijing. 2. It plans to raise the share of private sector financing from about 25% to 50% by 2030. 3. Since inception, AIIBās lending to India has been entirely in the public sector, with no role in private-sector financing. Which of the above statements is/are correct?Solution
ā¢ Statement 1 ā Correct: Ā The Asian Infrastructure Investment Bank (AIIB) was formed on 16 January 2016, with headquarters in Beijing, China. The current president is Jin Liqun. ā¢ Statement 2 ā Correct: Ā AIIB plans to double private sector financing by 2030, raising its share from 24.6% (~25%) to 50%. The total lending target is $17ā18 billion annually in the coming years. ā¢ Statement 3 ā Incorrect: Ā AIIB has lent nearly $12 billion to India, of which about $1.8 billion has gone to the private sector, showing its role is not limited to the public sector.
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