With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements : 1. AIIB has more than 80 member nations. 2. India is the largest shareholder in AIIB. 3. AIIB does not have any members from outside Asia. Which of the statements given above is/are correct?
- A.1 only
- B.2 and 3 only
- C.1 and 3 only
- D.1, 2 and 3
Correct answer
Explanation
The correct answer is A, 1 only. AIIB has well over 80 members, but China, not India, is its largest shareholder, and many members are outside Asia. The Asian Infrastructure Investment Bank is a multilateral development bank proposed by China; it began operations in January 2016 with its headquarters in Beijing. It finances infrastructure such as energy, transport, water and urban projects. Its membership has grown past 100 countries, so statement 1 is correct. China holds the largest share of capital and votes, and India is the second-largest shareholder and one of the biggest borrowers, so statement 2 is wrong. Members include non-Asian countries such as the United Kingdom, Germany, France, Italy, Egypt and Brazil, so statement 3 is wrong. Option B is wrong because both its statements are false. Option C is wrong because statement 3 is false. Option D is wrong because statements 2 and 3 are false. Exam tip: AIIB, 2016, Beijing; China first and India second among shareholders.
Practice Questions
View allConsider the following countries: 1. Armenia 2. Azerbaijan 3. Croatia 4. Romania 5. Uzbekistan Which of the above are members of the Organization of Turkic States ?
- A.1, 2 and 4
- B.1 and 3
- C.2 and 5
- D.3, 4 and 5
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The Organization of Turkic States brings together countries whose main languages belong to the Turkic family. It began in 2009 as the Cooperation Council of Turkic Speaking States, often called the Turkic Council, under the Nakhchivan Agreement, and took its present name in 2021.
Read the full explanation →Which of the following statements about ASEAN are correct ? 1. The Chairmanship of ASEAN rotates annually based on the alphabetical order of the English names of Member States. 2. The Chairmanship is decided by voting among the Member States. 3. "One Vision, One Identity, One Community" is the ASEAN motto. 4. 12th August is celebrated as ASEAN Day. Select the correct answer using the code given below:
- A.1 and 2 only
- B.1 and 3 only
- C.3 and 4 only
- D.1, 2, 3 and 4
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Under the ASEAN Charter, the Chairmanship rotates every year among the member states in the alphabetical order of their English names, so statement 1 is correct.
Read the full explanation →'Belt and Road Initiative' is a foreign policy initiative of
- A.China
- B.United States of America
- C.Canada
- D.Japan
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The Belt and Road Initiative is China's plan, announced by President Xi Jinping in 2013, to build roads, railways, ports, pipelines and power links connecting China with Asia, Europe and Africa.
Read the full explanation →Consider the following in respect of Indian Ocean Naval Symposium (IONS) : 1. Inaugural IONS was held in India in 2015 under the chairmanship of the Indian Navy. 2. IONS is a voluntary initiative that seeks to increase maritime co-operation among navies of the littoral states of the Indian Ocean Region. Which of the above statements is/are correct ?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
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Statement 2 is correct, but statement 1 is wrong because the first IONS was held in 2008, not 2015. The Indian Ocean Naval Symposium was conceived by the Indian Navy, and its inaugural edition took place in New Delhi in February 2008 with India as the first chair.
Read the full explanation →Which of the following is not a member of Gulf Cooperation Council?
- A.Iran
- B.Saudi Arabia
- C.Oman
- D.Kuwait
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Iran has never been a member of the Gulf Cooperation Council, though it lies on the Persian Gulf. The GCC was founded in May 1981 in Abu Dhabi by six Arab monarchies of the Arabian Peninsula: Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman.
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