> China launched the AIIB in 2013 in order to bolster and facilitate the BRI across Asia. Beijing possesses 30 percent of voting shares in the bank, resulting in effective veto power over any funding decisions that require a supermajority. Yet not only is India, which considers China to be its biggest geopolitical threat, a founding member of the bank, but it also constitutes its largest borrower, relying on AIIB loans for COVID-19 aid and to fund multiple domestic infrastructure projects.
> China launched the AIIB in 2013 in order to bolster and facilitate the BRI across Asia. Beijing possesses 30 percent of voting shares in the bank, resulting in effective veto power over any funding decisions that require a supermajority. Yet not only is India, which considers China to be its biggest geopolitical threat, a founding member of the bank, but it also constitutes its largest borrower, relying on AIIB loans for COVID-19 aid and to fund multiple domestic infrastructure projects.