The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank (MDB) conceived for the 21st century. Through a participatory process, its founding members are developing its core philosophy, principles, policies, value system and operating platform. The Bank's foundation is built on the lessons of experience of existing MDBs and the private sector. Its modus operandi will be lean, clean and green: lean, with a small efficient management team and highly skilled staff; clean, an ethical organization with zero tolerance for corruption; and green, an institution built on respect for the environment. The AIIB will put in place strong policies on governance, accountability, financial, procurement and environmental and social frameworks.
The AIIB aims to focus on the development of infrastructure and other productive sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics, etc. The operational strategy and priority areas of engagement may be revised or further refined by its governing boards in the future as circumstances may warrant.
AIIB will complement and cooperate with the existing MDBs to jointly address the daunting infrastructure needs in Asia. The Bank's openness and inclusiveness reflect its multilateral nature. AIIB welcomes all regional and non-regional countries, developing and developed countries, that seek to contribute to Asian infrastructure development and regional connectivity.
The Multilateral Interim Secretariat
In accordance with the MOU on establishing the Asian Infrastructure Investment Bank and authorized by the Chief Negotiators' Meeting, the Secretariat is responsible for executing technical preparations, and providing professional support and services for the Chief Negotiators' Meetings (CNMs). Its work program includes drafting the basic legal and policy documents necessary for the establishment of the AIIB, logistical support, and other tasks as delegated by the Chief Negotiators.
The Secretariat's Terms of Reference include: preparation of operational (including environmental and social aspects), staffing, administrative and financial policies; development of a pipeline of potential operations; and preparations for the inaugural meeting of the Board of Governors.
The Secretariat is headed by Secretary General Jin Liqun. It encompasses legal, communications, operational infrastructure, business development, and financial (treasury and control) departments and advisory staff. Secretariat staff include secondees from Prospective Founding Members and specialists/consultants recruited through a merit based selection process.
Where is Asian Infrastructure Investment Bank (AIIB)