Which country will be the first recipient of the Asian Infrastructure and Investment Bank (AIIB)’s local currency financing?
Answer with explanationAnswer: Option C
India will be the first recipient of local currency financing by the Asian Infrastructure and Investment Bank (AIIB). The objective of local currency financing is to provide more options to borrowers. India is the second-largest shareholder of AIIB with a 7.5% stake. It has received about $2-billion funding for various projects so far.China holds 20.06% and Russia holds 5.92%.