IR

India needs to bolster its health infrastructure: AIIB

·        The Asian Infrastructure Investment Bank (AIIB) is a multilateral development financial institution with a mission to enhance social and financial outcomes in Asia.

·        Headquartered in Beijing, it began operations in January 2016 and have now grown to 102 approved members worldwide.

·        It invests in sustainable infrastructure and other productive sectors in Asia and beyond. Membership in AIIB will be open to participants of the International Bank for Reconstruction and Development or the Asian Development Bank.

·        China is the most important contributor to the Bank, contributing USD 50 billion, half of the initial subscribed capital.

·        India is the second-largest shareholder, contributing USD eight.Four billion.

·        Fourteen of the G-20 countries are AIIB members which includes France, Germany, Italy and the UK.