Published on: January 10, 2022

ASIA INFRASTRUCTURE INVESTMENT BANK

ASIA INFRASTRUCTURE INVESTMENT BANK

cenforce 200 mg NEWS

http://tiffaneejacob.com/page/13/ Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed vice-president of the Beijing-based Asian Infrastructure Investment Bank (AIIB).

DETAILS

Mr. Patel

  • Will serve a three-year term as one of the multilateral development bank’s five vice-presidents
  • Had resigned as RBI Governor in 2018 in a surprise decision, citing “personal reasons” after serving for two years.

ABOUT AIIB

  • Multilateral development bank
  • Mission – improve social and economic outcomes in Asia and beyond.
  • Headquarters – Beijing
  • Commenced operations in January 2016.

Aim

  • By investing in sustainable infrastructure and other productive sectors today,
  • Connect people, services and markets that over time will impact the lives of billions and build a better future.

Membership

  • There are more than 100 members now.
  • Fourteen of the G-20 nations are AIIB members including France, Germany, Italy and the United Kingdom.

Voting Rights

  • 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 hold 75% of the total voting power in the Bank.

Organs

  • Board of Governors: The Board of Governors consists of one Governor and one Alternate Governor appointed by each member country. Governors and Alternate Governors serve at the pleasure of the appointing member.
  • Board of Directors: Responsible for the direction of the Bank’s general operations, exercising all powers delegated to it by the Board of Governors.
  • International Advisory Panel: To support the President and Senior Management on the Bank’s strategies and policies as well as on general operational issues