The AIIB has approved its first loan to....., its largest shareholder, to reduce its dependence on coal by over 600, 000 tonnes annually by building a natural gas distribution network for villages.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The AIIB has approved its first loan to____, its largest shareholder, to reduce its dependence on coal by over 600, 000 tonnes annually by building a natural gas distribution network for villages.

A	Singapore
B	India
C	China
D	Japan

Explanation:

Detailed explanation-1: -The Mission of the AIIB is to improve social and economic outcomes in Asia. Asian Infrastructure Investment Bank is headquartered in Beijing and started operations in 2016. China is the largest shareholder with 26.61 % voting shares in the bank, followed by India (7.6%), Russia (6.01%), and Germany (4.2 %).

Detailed explanation-2: -India has a 7.6% shareholding in the bank, which is second to China that has 26.6% shares. India is one of the largest beneficiaries of infrastructure projects financed by AIIB. The bank has funded about 28 projects in India worth USD 6.7 billion.

Detailed explanation-3: -India is by far the top recipient of AIIB loans, accounting for almost 20% of the bank’s projects.

Detailed explanation-4: -India is the second-largest shareholder in Asian Infrastructure Investment bank. The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Indo-Pacific region. Headquartered in Bejing and began operations in January 2016.

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