The Asian Infrastructure Investment Bank commenced its operations in _____.
Show answer & explanation
Correct answer: D
Explanation
Correct Answer:
Option 4: 2016
Explanation:
The Asian Infrastructure Investment Bank (AIIB) commenced its operations in 2016. It is a multilateral development bank aimed at financing infrastructure development in Asia. Its headquarters is located in Beijing, China. India is a major member and the second-largest shareholder after China. AIIB provides funding for projects related to roads, energy, transport, water, and urban development. It promotes regional cooperation and economic growth. This topic is important for international organizations and current affairs.
Additional Facts:
Option 1: 1991 is known for economic liberalization in India.
Option 2: 1997 is related to the Asian financial crisis.
Option 3: 2003 is not related to AIIB.
Probable Exam Questions:
Q: Where is AIIB headquarters located?
A: Beijing
Q: Which country is the largest shareholder of AIIB?
A: China
Q: What is India’s position in AIIB shareholding?
A: Second
Q: AIIB works for development of which sector?
A: Infrastructure