Asian Infrastructure Investment Bank - AIIB
Asian Infrastructure Investment Bank - AIIB
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 Asia-Pacific region. The bank currently has 56 member states while another 24 are prospective members for a total of 80 approved members, and was proposed as an initiative by the government of China. The bank started operations after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total of 50 % of the initial subscriptions of the Authorised Capital Stock. Major economies that are not members include Japan and the United States.
The United Nations has addressed the launch of AIIB as having potential for "scaling up financing for sustainable development" for the concern of global economic governance. The capital of the bank is $100 billion, equivalent to two-thirds of the capital of the Asian Development Bank and about half that of the World Bank.The bank was proposed by China in 2013 and the initiative was launched at a ceremony in Beijing in October 2014.Need for Development of AIIIB:
(a) Western dominance:The presence of western dominance in the IMF, the World Bank and the Asian Development Bank (ADB) has been considered as the major factor behind formation of AIIB. It is a set norm that the president of WB will be a person chosen by the US, whereas the IMF chief would be a European.
(b) Lack of reform in IMF and World Bank:This means that there is no reflection of current economic situation in the quota politics that dominates economics. The World Bank violated its Articles of Agreement in denying India fresh loans after India tested nuclear weapons in May 1998, As per its Articles, political issues should not influcnce its decisions.
(c) Huge demand of infrastructure fund in Asia:According to report by ADB, till 2020 Asia needs $800 billion per annum for infrastructure projects.
Global Impact of the Initiative:(a) It will catalyse the reforms in global financial institutions as more competition among these banks will catalyse the long awaited reform in Bretton wood twins.(b) According to ADB, Asia needs $8oo billion of investment every year. AIIB can play a significant role in providing funding for it.(c) Economic and political power may shift to Asia as key European members and allies of the USA have joined the Bank.
Relevance for India:(a) India is a founding member of the AIIB and is expected to have the second-largest shareholding after China.(b) Establishment of the AIIB will help India and other signatory countries to raise and avail resources for their infrastructure and sustainable development projects.
It is expected that with membership in AIIB, India would be able to raise and obtain more resources for much needed infrastructure development. As per 12th FYP, India needs $1 trn for infrastructure funding:thus, India can leverage its membership in AIIB to avail cheap loan
AIIB stands for which of the following? | |||
| Right Option : D | |||
| View Explanation | |||
Students / Parents Reviews [20]
My experience with Abhyas Academy has been very good. When I was not in Abhyas whenever teacher ask questions I could not speak it confidently but when I came in Abhyas, my speaking skills developed and now I am the first one to give the answer of teachers question.
Upmanyu Sharma
7thMy experience with Abhyas is very good. I have learnt many things here like vedic maths and reasoning also. Teachers here first take our doubts and then there are assignments to verify our weak points.
Shivam Rana
7thMy experience was very good with Abhyas academy. I am studying here from 6th class and I am satisfied by its results in my life. I improved a lot here ahead of school syllabus.
Ayan Ghosh
8thAbhyas academy is great place to learn. I have learnt a lot here they have finished my fear of not answering.It has created a habit of self studying in me.The teachers here are very supportive and helpful. Earlier my maths and science was good but now it has been much better than before.
Barkha Arora
10thI have spent a wonderful time in Abhyas academy. It has made my reasoning more apt, English more stronger and Maths an interesting subject for me. It has given me a habbit of self studying
Yatharthi Sharma
10thAbhyas institute is one of the best coaching institute in the vicinity of Ambala Cantt area. The teachers of the institute are well experienced and very helpful in solving the problems of the students.The good thing of the institute is that it is providing extra classes for the students who are w...
Aman Kumar Shrivastava
10thThird consective year,my ward is in Abhyas with nice experience of admin and transport support.Educational standard of the institute recumbent at satisfactory level. One thing would live to bring in notice that last year study books was distributed after half of the session was over,though study ...
Ayan Ghosh
8thThe experience was nice. I studied here for three years and saw a tremendous change in myself. I started liking subjects like English and SST which earlier I ran from. Extra knowledge gave me confidence to overcome competitive exams. One of the best institutes for secondary education.
Aman Kumar Shrivastava
10thA marvelous experience with Abhyas. I am glad to share that my ward has achieved more than enough at the Ambala ABHYAS centre. Years have passed on and more and more he has gained. May the centre flourish and develop day by day by the grace of God.
Archit Segal
7thIt was a good experience with Abhyas Academy. I even faced problems in starting but slowly and steadily overcomed. Especially reasoning classes helped me a lot.
Cheshta
10thAbout Abhyas metholodology the teachers are very nice and hardworking toward students.The Centre Head Mrs Anu Sethi is also a brilliant teacher.Abhyas has taught me how to overcome problems and has always taken my doubts and suppoeted me.
Shreya Shrivastava
8thUsually we see institutes offering objective based learning which usually causes a lag behind in subjective examinations which is the pattern followed by schools. I think it is really a work of planning to make us students grab the advantages of modes of examination, Objective Subjective and Onli...
Anika Saxena
8thAbhyas is a complete education Institute. Here extreme care is taken by teacher with the help of regular exam. Extra classes also conducted by the institute, if the student is weak.
Om Umang
10thAbhyas Methodology is very good. It is based on according to student and each child manages accordingly to its properly. Methodology has improved the abilities of students to shine them in future.
Manish Kumar
10thAbhyas is good institution and a innovative institute also. It is a good platform of beginners.Due to Abhyas,he has got knoweledge about reasoning and confidence.My son has improved his vocabulary because of Abhyas.Teacher have very friendly atmosphere also.
Manish Kumar
10thIt was good as the experience because as we had come here we had been improved in a such envirnment created here.Extra is taught which is beneficial for future.
Eshan Arora
8thIt has a great methodology. Students here can get analysis to their test quickly.We can learn easily through PPTs and the testing methods are good. We know that where we have to practice
Barkha Arora
10thOne of the best institutes to develope a child interest in studies.Provides SST and English knowledge also unlike other institutes. Teachers are co operative and friendly online tests andPPT develope practical knowledge also.
Aman Kumar Shrivastava
10thMy experience with Abhyas academy is very nice or it can be said wonderful. I have been studying here from seven class. I have been completing my journey of three years. I am tinking that I should join Abhyas Academy in tenth class as I am seeing much improvement in Maths and English
Hridey Preet
9thWe started with lot of hope that Abhyas will help in better understnding of complex topics of highers classes. we are not disappointed with the progress our child has made after attending Abhyas. Though need to mention that we expected a lot more. On a scale of 1-10, we would give may be 7.
