About Asian Infrastructure Investment Bank:
- It is a multilateral development bank established in
- Objective: It focuses on promoting sustainable economic growth, enhancing regional connectivity, and mobilizing both public and private capital for infrastructure investments.
- Headquarters: Beijing, China
- Membership: It has now grown to 111 approved members
- India is a Founding Member of AIIB and the second-largest shareholder after China.
- Governance:
- It is headed by a Board of Governors composed of one Governor and one Alternate Governor appointed by each of the member countries.
- A non-resident Board of Directors is responsible for the direction and management of the Bank, such as the Bank’s strategy, annual plan and budget and establishing policies and oversight procedures.
- The bank staff is headed by a President who is elected by AIIB shareholders for a five-year term and is eligible for re-election once.
