What is the Full Form of AIIB?

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aiib Full Form

The full form of AIIB is Asian Infrastructure Investment Bank. It is a multilateral development bank established under a multilateral treaty called the AIIB Articles of Agreement. The AIIB is headquartered in Beijing and started its operations in the year 2016. Among others, China is the largest shareholder with 26.61 followed by India with 7.6%, and Russia with 6.01%. Once started with 57 founding members, the AIIB today has over 105 members including Brazil, Australia, Bangladesh, India, Israel, Germany, etc. 

Name of the bankAsian Infrastructure Investment Bank
Established on 2016
Headquarters Beijing, China 

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Organs of AIIB

The organs of AIIB include:

  • Board of Governors: It consists of one Governor and one Alternate Governor who are appointed by each member country. All the powers are vested in the Board of Governors of the AIIB.
  • Board of Directors: It consists of a total of 12 members who are not members of the Board of Governors. Out of these, nine are elected by the Governors and three by the Governors who are representing non-regional members. 
  • Senior Management: It consists of the President, five Vice Presidents, and a few senior officers. This team is responsible for effective management, administration, policy and strategy, and other essential tasks.
  • International Advisory Panel: The IAP supports and aids the President and Senior Management on certain issues such as strategies and policies. This panel meets twice a year including a meetup with the Board of Governors. 

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What are the Goals of AIIB?

The primary aim of the Asian Infrastructure Investment Bank is to foster and promote prosperity and economic development in Asia. Its other goals include:

  • To promote regional cooperation among member states
  • To promote private investment in projects and enterprises
  • To utilize the resources for finances
  • To promote investment in public and private capital

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AIIB and India 

India is the second-largest shareholder after China and the largest beneficiary of AIIB. the AIIB has funded 28 Indian projects amounting to somewhere around USD 6.7 billion. Here are a few examples of the same:

  • India Infrastructure Fund
  • Bangalore Metro Rail Project
  • Andra Pradesh 24×7- Power for All Project
  • Gujarat Rural Roads 
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