AMN/ WEB DESK
Beijing based Asian Infrastructure Investment Bank has announced that “all activities relating to Russia and Belarus are on hold and under review” due to ongoing war in #Ukraine
Russia is a founding member of AIIB. Neither Ukraine, nor Belarus are members. China is the largest shareholder and India is the second largest shareholder in the multilateral development bank.
AIIB in a statement on its website said that “AIIB stands ready to extend financing flexibly and quickly and support members who have been adversely impacted by the war, directly or indirectly.”
It added “Economic spillover from commodity price shocks, financial market volatility and other factors may adversely impact our members’ economic situation. We will work closely with our partner multilateral organisations to provide any needed support expeditiously