Annual Meeting of Board of Governors of AIIB

Finance Minister Nirmala Sitharaman will attend the 9th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) scheduled in Samarkand, Uzbekistan.

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• Theme of Annual Meeting : “Building Resilient Infrastructure for All”

About Asian Infrastructure Investment Bank (AIIB)

• AIIB is a multilateral development bank  established in 2016.
• It aims to improve economic and social outcomes in Asia.
• Headquarters :Beijing, China.
• Membership: It has more than 100 members  with 57 founding members.
  • India is also one of the founding members.
  • Fourteen of the G-20 nations are AIIB members including France, Germany, Italy and the United Kingdom.
• Founding Members: 57 countries. India is a founding member.
• Board of Governors: All powers of the Bank are vested in the Board of Governors, which is the highest decision-making body under Articles of Agreement.

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• Largest Shareholder: China is the AIIB’s largest shareholder with a 26.5% voting share.
  • India is the second-largest, with 7.5% Voting share.
  • Russia  has a 5.97% voting share.
• Focus Areas: Provides funding for diverse sectors including transportation, energy, telecommunications, urban development, and rural infrastructure
• In 2018, AIIB was granted Permanent Observer status in the deliberations of both the United Nations General Assembly and the Economic and Social Council

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