Consider the following statements regarding Asian Infrastructure Investment Bank AIIB India is ...........

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Consider the following statements regarding Asian Infrastructure Investment Bank (AIIB)

India is the second-largest shareholder in the bank, followed by Russia.
It is a multilateral development bank that funds projects only to Asian countries.
It is headquartered in Manila, Philippines.

Select the correct statement.

1 only

2&3 only

1&3 only

3 only

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Explanation:

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia. However, it has funded some of the projects outside Asia, e.g. it has funded projects in Egypt (African country) in 2017 and 2018. 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 %). The regional members (mainly the Asian countries) hold 75% of the total voting share in the Bank. It is headquartered in Beijing, China. Only 14 of the G-20 nations are members of AIIB. Hence only statement 1st is correct.