This is utter rubbish headline. AIIB is as much Indian as it is Chinese. And it is a multilateral institution, not a commercial bank. Just because HQ is in Beijing doesn’t make it Chinese bank. https://twitter.com/ttindia/status/1306050924440358919
In the other multi-lateral institution - BRICS Bank or New Dev Bank - our own KV Kamath was the head.
and our FM is on the board of governors there as well.
Since people are pretending not to understand. 1. Multilateral institutions are not like companies. 2. AIIB has 82 countries as members 3. the size of the capital is usu dependent on the size of the economy, but is negotiated. 4. the goal of MIIs is not to make money but...
developmental. That of AIIB is to be asia/infra focused. 5. It raises capital and loans from member countries and private entities - and lends/invests 6. It has staff from its member countries
6. It is the largest investor in the Mumbai Metro project. It is helping West Bengal in its irrigation management.
7. I don't know for a fact, but usually the shareholding does not come with dividends.
Finally - we are the second largest shareholder, founder member, lender, we use up our finance minister and several bureaucrats' time to run the organisation - but if we borrow from such a non commercial multilateral agency - it will be termed as 'borrowing from China'. Wah
This is what MMS had said about AIIB:
See what @karanbhasin95 says about this: https://twitter.com/c_aashish/status/1306277282437189633?s=20
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