Question: Recently AIIB (Asian Infrastructure Investment Bank) has constituted its board of directors, Name the person who have been elected from India to this 12-member board?
(a) Dinesh Sharma
(b) Gautam Sanyal
(c) Arun Kumar Singh
(d) Nripendra Misra
Ans (a)
Related facts:
- On 17 January 2016 India one of the founding members of the AIIB, has been elected to the board of directors of the China-sponsored Asian Infrastructure Investment Bank in Beijing, China.
- Dinesh Sharma who is presently serving as Additional Secretary of Ministry of Finance has been elected to the 12-member board of directors.
- He has been elected through a secret ballot.
- This is the first board of directors for the new bank in which 57 members joined founding members.
- The election of India to board of directors of the AIIB expected to provide significant role for it as it is the forum that approves the loans for projects.
- AIIB was formally launched by Chinese President Xi Jinping at a special function in Beijing on 17 January 2016.
- The inaugural meeting of the Asian Infrastructure Investment Bank’s Board of Governors was held in Beijing on January 16-17, 2016.
- Finance Minister Arun Jaitley is the designated governor of the AIIB from India.
- The Governors elected the Bank’s Board of Directors and Mr. Jin Liqun, former Chinese Finance Minister to head the bank after Russia withdrew its candidate.
- It should be noted that China is the largest shareholder with 26.6 per cent voting shares; India is the second largest shareholder with 7.5 per cent followed by Russia 5.93 per cent and Germany with 4.5 per cent voting shares in AIIB.
- AIIB has authorized capital of $100 billion and subscribed capital of $50 billion.
- AIIB will invest in sectors including energy, transportation, urban construction and logistics as well as education and healthcare.
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