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- AIIB took shape with 50 members, including Australia, India, Russia and the United Kingdom and the remaining 7 are likely to join by the end of the year.
- China will be the largest shareholder (at 30.34%), followed by India (8.52%) and Russia (6.66%).
- AIIB is a culmination of China’s concerns that the emerging economies were not being given an adequate say in institutions such as IMF and WB.
- With ‘Belt and Road’ project close to her heart, AIIB is likely to invest in projects in China’s Asian neighbourhood which is suffering from a massive infrastructure funding gap.
- India’s participation in AIIB indicates mature balancing act to suit its interests – to engage with the West, at the same time exploring options with new financial institutions.