China’s top legislature ratifies AIIB agreement
Q. China’s top legislature ratified which agreement on 4th November 2015?- Published on 05 Nov 15a. AIIB
b. WB
c. WHO
d. UN
ANSWER: AIIB
China’s top legislature on 4th November 2015 ratified the Asian Infrastructure Investment Bank (AIIB) agreement, that will set out legal framework for the $100 billion-bank in which India and 56 other countries are founder members. This is a step closer to the international bank’s establishment and it could rival WB, IMF and ADB according to some reports. It has authorised capital of $100 billion and subscribed capital of $50 billion. China, India and Russia are the three largest shareholders.
