- 10% Quota for general category
- NITI Aayog proposes all India Judicial Service Examination
- CAG Report on government spending
- Need for Citizenship (Amendment) Bill
- Clause 6 of Assam accord : indepth analysis
- Collegium system for appointment of judges
- Fear of Executive Courts
- Tamilnadu Reservation Policy
Governance & Social Justice
- Bhasha Sangam Program : Celebration of Linguistic Diversity
- Cabinet approves revision in list of scheduled tribes of Arunachal Pradesh
- Does India need a coal commission?
- Concerns in Ayushman Bharat
- Depression at workplaces : A major health issue in India
- How to bridge Gender gap in India : Mckinsey Global Institute Report
- Government plans to rename Indian Forest Service
- IGOT Program for Competent Civil Services
- Indian Medical Council Amendment Bill 2018
- National Commission for Indian Systems of Medicine and Homoeopathy
- Government bats for National Medical Devices Promotion Council
- Parental consent for vaccination
- India Signs Agreement with OECD for PISA 2021
- Kerala’s wall of resistance
- Should an IAS officer use Social Media?
- Social media addiction
- Legal Status for SSC
- Tripal Talaq Bill 2018
- Web Wonder Women Campaign by Ministry of WCD
- West Bengal Leaves Ayushman Bharat : In-depth Analysis
- Why Asian Infrastructure Investment Bank Is Important For India
- What Is The Asia Reassurance Initiative Act
- E-Passport for Indians
- What Is G-77
- Failed Coup In Gabon
- Bagladesh Election
- Powering South Asian Integration
- ISRO’S New Station In Bhutan
- Kenya Replace Pictures Of Leaders on Coins With Animal
- Macedonia Name Change
- Why Norway Is Important For India
- Why India Need Membership Of NSG
- Pakistan Declared A Hindu Temple A Heritage Site
- Raisina Dialogue 2019
- India’s Republic Day Guest
- India To Take Over Sittwe Port Operation In Myanmar
- U.S. Mexico Border
- US Government Shutdown
- US Venezuela Crisis
- What is Angel Investment?
- Byorung Bridge
- India’s Airport Privatization Plan
- Rationalisation of GST Rates
- 1st Advance Estimates of Economic Growth by CSO
- Democracy Index 2018
- E-DRISHTI Software by Ministry of Railways
- What is GAFA tax
- Ganga Expressway to be Built in UP
- Green-Ag Project launched by India with UN FAO
- Issue of Tax Evasion under GST
- Improvements under GST Regime
- ICAT Certification for Automobilies
- What is Indian Bridge management System?
- Draft Information Technology Amendmenet Rules 2018
- Jamrani multipurpose DAM Project
- What is KALIA Scheme?
- MANDAL DAM
- Mega Merger!
- MSP for minor forest produce
- NITI Aayog suggestions on farm Economy
- India’s first vertical-lift Bridge
- Paradip Hyderabad pipeline
- Measures to address issues in Sugar industry
- Capital infusion in PSBs
- Renukaji dam
- PM Modi inaugrates Rice Research Institute
- Section 74 of the insolvency and Bankruptcy Code
- Social & Environmental Cost of Building dams
- Solar feeder Maharashtra model
- RBI Tokenisation
- Sikkim-Universal basic income
- Global Risks Report 2019
Science & Technology
- Why Beech Trees Dying
- Beat Plastic Pollution Resolve by India
- Why USA Is Killings California Sea Lions
- Carbon Tax
- China’s War On Particulate Air Pollution Is Causing More Serve Ozone Pollution
- CITES Washington Convention
- Coastal Regulation Zone
- Melting Ice Sheets And Release Of methane
- National Clean Air Programme Feature &Critical Analysis
- Oceans Are Heating Up 40% Faster Than Previous Estimates
- Revival Of Iran’s Lake Urmia
- India submitted sixth national report to Convention on Biological Diversity
- How Wild Fire Affect crop and vegetation Production
- NITI Aayog’s SDG Index
Spice of the Month
- GS2 || International Relations || International Organizations || AIIB
Why in news?
- India will need about USD 4.5 trillion in the next 25 years for infrastructure development
- The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank initiated by China that aims to support the building of infrastructure in the Asia-Pacific region.
- It is viewed as Asia’s response to West-dominated Asian Development Bank (ADB) and World Bank (WB).
- It was officially established in December 2015 with mission to improve social and economic outcomes in Asia and beyond and opened for business in January 2016.
- It is headquartered in Beijing, China.
- Its goals are to boost economic development in Asia-Pacific region, provide infrastructure, and promote regional cooperation and partnership. It priorities investments in energy, power generation, transport, rural infrastructure, environmental protection and logistics in Asia.
- The starting capital of the bank was $100 billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about one third that of the World Bank.
Capitals around the world
- The authorised capital of the World Bank is $280 billion, the Asian Development Bank $164 billion, the Inter-American Development Bank $171 billion, the African Development Bank $103 billion, and the European Bank for Reconstruction and Development $39 billion.
India and AIIB
- India has emerged as a top borrower from the China-sponsored Asian Infrastructure Investment Bank (AIIB) with USD 1.5 billion worth of loans last year and USD three billion more in the pipeline.
- Almost 28 per cent of the money lent by AIIB in first two years of operation has gone to projects in India
- India is also the only country apart from China to enjoy a permanent seat on the Bank’s board of directors.
- The biggest AIIB loan to an Indian project approved so far has been US$335 million for a metro rail project in the southern Indian city of Bangalore that includes 13.6 miles (22km) of railway line and 18 stations.
- India is the second largest shareholder, with 7.7 per cent of the votes, followed by Russia with 6.1 per cent and Germany with 4.27 per cent.
- India needs $4.5 trillion to finance and achieve holistic development of its infrastructure.
- Domestic banking institutions and finances are insufficient to meet such high demand for investment, and thus, the role of multilateral institutions targeting infrastructure projects such as NDB, AIIB assumes significance.
Annual meeting of AIIB
- The 3rd Annual Meeting of Asian Infrastructure Investment Bank (AIIB) concluded in Mumbai, Maharashtra in optimistic note to raise its lending capacity to boost prosperity and security in Asia.
- The meeting was jointly organised by Department of Economic Affairs under Union Finance Ministry and AIIB.
- The theme of third meeting was ‘Mobilising Finance for Infrastructure: Innovation and Collaboration’. It was attended by over 3,000 delegates from 86 member countries of AIIB.
- The first AIIB board of governors annual meeting was held in Beijing, China in 2016 and second in Jeju, South Korea in 2017 . The fourth annual meeting will be held in Luxembourg in July 2019. Luxembourg is a founding member of AIIB.