What are the truths regarding the myths of AIIB?

World
Europe

03:03

The Asian Infrastructure Investment Bank, or AIIB, began operations in January 2016. Its membership has since increased from 57 founders to 97 approved members.

However, there are still some myths existing in the international arena. Regarding that, CGTN Senior Correspondent Tian Wei caught up with Sir Danny Alexander, Vice President and Corporate Secretary of the AIIB. On the eve of the second Belt and Road Forum for International Cooperation, he resolves the myths surrounding the AIIB in an exclusive with Tian Wei.

Q: Does the AIIB belong to China?

A: AIIB was proposed by China and it was a very good proposal, but it is not a Chinese bank, it is an international bank. We are owned by all 97 of our member countries that are all shareholders participating in the decision making. They represent the boardroom table. So this is an international institution, not a Chinese institution.

Q: Will the AIIB invest in all projects of the BRI?

A: We look for a project on their own merits, not particular labels. The fact that it is particularly promoting productivity means it has a lot of overlap with certain things that the AIIB is trying to do.

Q: Is their fear of competition between the AIIB and another international development agency or institution?

A: Cooperation, not competition. The truth is that across Asia, the need for infrastructure is so huge. There is plenty for AIIB and the World Bank and the ADB to do. And there have been left plenty more for everybody else. So we don't need to compete, but what we need to do is work together.

Q: Who decides on issues within the AIIB?

A: Things within the AIIB are decided by its board and management. The AIIB has a board which includes 12 directors from all of the member countries. Top management of the bank is very international. The president is Chinese; I'm from the UK; my colleagues come from Germany, France, India and Indonesia. So everything about the AIIB is international.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com.)