◾️Why in news
✅Amid to Russia ukrain tension , Beijing-based Asian Infrastructure Investment Bank puts Russia, Belarus projects ‘on hold’
◾️What is AIIB?
✅Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia and beyond.
✅The Parties (57 founding members) to agreement comprise the Membership of the Bank.
✅It is headquartered in Beijing.
It commenced operations in January 2016.
◾️Aim:
✅By investing in sustainable infrastructure and other productive sectors today, it aims to 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.
✅Membership in the AIIB is open to all members of the World Bank or the Asian Development Bank and is divided into regional and non-regional members.
Regional members are those located within areas classified as Asia and Oceania by the United Nations.
◾️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.
✅Russia Belarus both r it's member countries
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