AIIB seen as rival to WB

Q.  Asian Infrastructure Investment Bank is seen as a rival to the ______.
- Published on 21 Jun 15

a. Federal Bank
b. Reserve Bank of India
c. Industrial & Commercial Bank of China Limited
d. World Bank

ANSWER: World Bank
 
AIIB will have authorised capital of 100 billion US Dollars, and Asian countries will contribute up to 75 per cent of the total capital. Each member will be allocated a share of the quota based on their Economic size and not contribution to the Bank's authorised capital. AIIB is expected to go into operation later this year.

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