Which of the following statements is incorrect regarding the Asian Infrastructure Investment Bank (AIIB)?
1
The AIIB was established in 2016 as a multilateral development bank with the mission of financing infrastructure in Asia and beyond.
2
AIIB's headquarters is located in Shanghai, China, and currently has 96 full members and 14 prospective members.
3
China is the largest shareholder in AIIB with a 26.6% voting share, giving it veto power, followed by India with 7.6% and Russia with 6%.
4
The AIIB focuses on assisting low-income countries in availing financial resources for infrastructure development.