China-backed development bank appoints five foreign vice presidents
Appointments include German, Briton, Indian, South Korean and Indonesian
The Asian Infrastructure Investment Bank (AIIB) has appointed five non-Chinese vice-presidents, the China-backed lender said on Friday, following vows that it would be an international institution and not used to boost Beijing’s influence.
The AIIB, first proposed by President Xi Jinping less than two years ago, has become one of China’s biggest foreign policy successes.
Despite the opposition of Washington, almost all major US allies – Australia, Britain, German, Italy, the Philippines and South Korea - have joined.
The United States, which initially cautioned nations against joining the AIIB, had expressed concern over how much say China would wield within the bank, to the benefit of its state-run companies.
The five posts include a vice-president of policy and strategy, a corporate secretary and chief officers for risk, investment, and administration, the bank said in a statement.
“This is an exceptionally strong and committed group who bring wide and varied experience and a wealth of expertise that will serve the bank well,” AIIB President Jin Liqun said.