Asian Infrastructure Investment Bank (AIIB)

A 2019 UPSC question asked how many countries belong to the Asian Infrastructure Investment Bank, and who its biggest shareholder is. Most students got the shareholder wrong. China founded the AIIB in 2016 and still holds its largest shareholding. India is a founding member too, and today it is the bank’s single largest borrower. This article covers AIIB’s founding, its membership and voting structure, India’s role, and how it compares with the World Bank and the Asian Development Bank.

The Asian Infrastructure Investment Bank’s headquarters building, Asia Financial Center, Beijing. Photo: N509FZ, CC BY-SA 4.0, via Wikimedia Commons.

Began operations — Asian Infrastructure Investment Bank, Beijing

Approved members, 2026

China’s voting power (largest)

India’s voting power (2nd largest)

$0B

Approved lending, first decade

India’s share of AIIB lending, %

UPSC Prelims asked about AIIB

China~26.5% (largest)

India~7.6% (2nd largest)

Russia~5.9% (3rd largest)

📑 Contents

1Must Know
2Good to Know
3Test Yourself
4Great to Know
5Current Affairs

✊ Must Know

1. Founding and Headquarters

Founded China proposed the AIIB in 2013. Fifty countries signed its Articles of Agreement on 29 June 2015, in Beijing.
Operations The Agreement entered into force on 25 December 2015. The bank formally began operations on 16 January 2016.
HQ AIIB is headquartered in Beijing, at the Asia Financial Center in Chaoyang District.

2. Membership

Members AIIB has 111 approved members. This mix includes both regional and non-regional countries.
Growth Membership crossed 80 well before 2019. It passed the 100-member mark in July 2019, the same year UPSC asked about it.

3. Mandate

Mandate AIIB finances infrastructure and other productive sectors, in Asia and beyond. Its own motto describes this as "Lean, Clean, and Green" investment.
Capital It is capitalised at $100 billion in authorised capital. Major rating agencies give it an AAA credit rating.

4. Largest Shareholders

China China is AIIB's largest shareholder. It holds roughly 26.5% of total voting power, well ahead of any other member.
India India is the second-largest shareholder, with roughly 7.6% of voting power. Russia is third.

5. Non-Regional Members

Beyond Asia AIIB does have members from outside Asia. The United Kingdom, Germany, France, Canada, and Australia are all non-regional members.
Wider reach African and Latin American states have joined too, including South Africa, Kenya, Morocco, Argentina, and Uruguay.

📘 Good to Know

1. Voting Power and Governance

Veto-like power Major AIIB decisions need a super-majority of 75% of voting power. China's ~26.5% share alone is enough to block any such decision on its own.
Board AIIB runs on a non-resident Board of Directors. This keeps its governance leaner than older institutions with full-time resident boards.

2. Leadership

Founding President Jin Liqun was AIIB's founding President, serving two five-year terms from 16 January 2016 to 15 January 2026.
Current President Zou Jiayi, a former Chinese Vice Minister of Finance, took charge as President on 16 January 2026.

3. Germany's Role Among Non-Regional Members

Largest non-regional Germany is AIIB's largest non-regional shareholder. It holds a bit over 4% of total voting power.

4. AIIB vs. World Bank and ADB

Comparison The World Bank was founded in 1944, and the Asian Development Bank in 1966. AIIB is decades younger, founded only in 2016.
Comparison AIIB is not a rival to these older institutions. It co-finances many projects jointly with the World Bank Group and the ADB.
Comparison AIIB's non-resident board keeps its staff and overhead smaller than the World Bank's or ADB's, by design.

Test Yourself

🌿 Great to Know

1. India, AIIB's Largest Borrower

Borrowing India is a founding member of AIIB, and also its single largest borrower. It accounts for roughly a quarter of the bank's total lending.
Sectors AIIB financing to India covers energy, transport, urban infrastructure, and public health projects.

2. Financing Instruments

Tools AIIB lends through sovereign loans to governments, as well as non-sovereign loans, equity investments, and guarantees for private-sector projects.

3. First Decade in Numbers

Scale AIIB turned 10 years old in January 2026. In its first decade, it approved nearly $70 billion in financing, across 361 projects.

4. Connection to UPSC 2019

PYQ UPSC Prelims 2019, Question 71, tested exactly these three facts: membership size, largest shareholder, and non-regional membership. Only the first statement was correct.

5. Connection to UPSC 2022

UPSC 2022 UPSC Prelims 2022, Question 66, asked whether India belongs to AIIB, MTCR, and SCO. The correct answer is all three — India is a member of AIIB, the Missile Technology Control Regime (joined 2016), and the Shanghai Cooperation Organisation (joined 2017). See UPSC CSP 2022 GS Paper I, Q66 View this question.

📰 Current Affairs

1. Zou Jiayi Takes Charge as President (16 January 2026)

Leadership Zou Jiayi, elected by AIIB's Board of Governors in June 2025, assumed the presidency on 16 January 2026, succeeding founding President Jin Liqun. Source: AIIB — Zou Jiayi Assumes Presidency.

2. Jin Liqun Concludes a Decade as Founding President (15 January 2026)

Milestone Jin Liqun completed his second five-year term and stepped down on 15 January 2026, after leading AIIB since its founding in 2016. Source: AIIB — Jin Liqun Concludes Second Term.

3. Ajay Bhushan Pandey Joins AIIB Leadership (April 2025)

India connection AIIB appointed Ajay Bhushan Pandey, India's former Finance Secretary and a key architect of Aadhaar and UPI, as Vice-President, Investment Solutions, from 1 April 2025. Source: AIIB — Ajay Pandey Appointed VP, Investment Solutions.

4. New India Financing Approved (January 2026)

Data AIIB approved $250 million for the India: Shriram Sustainable On-Lending Facility II, to support low-carbon vehicles and renewable energy financing in India. Source: AIIB — Approved Projects.

Related reading: IndEco0266 — Asian Development Bank (ADB), IndEco0240 — New Development Bank (NDB), and IndEco0066 — The World Bank Group, for three more multilateral development banks India is a founding member of.

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