Multiple Choice Questions on With reference to Asian Infrastructure Investment Bank AIIB consider following statements It is a mu........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

With reference to Asian Infrastructure Investment Bank AIIB consider following statements It is a mu...........

Economic Affairs Financial Institutions
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    With reference to Asian Infrastructure Investment Bank (AIIB), consider following statements

    1. It is a multilateral development bank with members from G-20 as well.
    2. It allows for membership to sovereign entities only.

    Select the incorrect statement.

    1 only

    Incorrect Answer

    2 only

    Correct Answer

    Both

    Incorrect Answer

    None

    Incorrect Answer
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    Explanation:
    1. The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank (MDB). Fourteen of the G-20 nations are its members including France, Germany, Italy and the United Kingdom. Hence statement 1st is correct.
    2. The AIIB, unlike any other MDB, allows for non-sovereign entities to apply for its membership, assuming their home country is a member. Hence statement 2nd is  incorrect.

    By: Shubham Tiwari
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