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AIIB committed to “highest possible standard”

The first president of the Asian Infrastructure Investment Bank vows that he will adhere to the “highest possible standard” in running the new multilateral financial institution.

Jin Liqun made the remarks at a press conference after the AIIB was declared open for business on Saturday.

The Beijing-based development bank is designed to finance infrastructure development and regional connectivity in Asia.

One day after the AIIB’s launch, its first president, Jin Liqun, says he is committed to running the institution according to the principles of transparency, openness, accountability and independence.

Jin’s pledge came after the conclusion of a two-day inaugural meeting of the AIIB’s board of governors on Sunday. The meeting approved by-laws, rules and codes of conduct for the bank.

Answering a question about the bank’s oversight mechanism, Jin stressed the importance of putting in place a good system and corporate culture.

(电视通稿•国内•经济)金立群:亚投行将为反腐设立特别部门

SOUNDBITE(CHINESE)JIN LIQUN, President of AIIB
“The AIIB’s core values are lean, clean and green, and I think a good system and corporate culture should be established. There will be division of power and responsibility between the board and management, with the board exercising oversight of the management in addition to the designing and approval of major policies. And there will be a unit responsible for ‘compliance, effectiveness and integrity’, which will report directly to the board.”
【同期】亚投行行长 金立群
  我们的核心理念是机构精简、廉洁和绿色。我认为必须建立起良好的机制,好的企业文化。对于亚投行,我们的银行董事会和管理层权责分明,董事会将监督管理层,通过主要的银行政策,将成立一个特别部门,即合规、高效和廉政,这个部门将直接向董事会汇报。

Jin says the oversight mechanism will be implemented without any compromise.

As to whether the AIIB’s door is open to Japan and the U.S., Jin says the institution’s door will always stay open,

(电视通稿•国内•经济)金立群:亚投行的大门对日本、美国敞开
SOUNDBITE(CHINESE)JIN LIQUN, President of AIIB
“AIIB is warmly embraced by so many countries in the world. We have member countries in every continent, from north to the south, from east to the west, it is truly a great achievement. I’m very grateful to all the governments of the member countries who have been supportive. AIIB’s door has been opened and the door will stay open.”

【同期】亚投行行长 金立群
  全球的众多国家接受亚投行,加入亚投行,我们的成员国现在遍布全球,从南半球到北半球,既有东方国家,也有西方国家,这是一个非常大的成就,非常感谢成员国的支持。亚投行的大门是敞开的,也将一直敞开。

Jin says thirty of the 57 prospective founding members, representing over 74 percent of the shares, have become full members of the AIIB.

And the remaining ones will complete their membership processes by the end of this year.

The AIIB was proposed by Chinese President Xi Jinping in 2013 and officially established late last year. It is headquartered in Beijing.

The multilateral financial institution is designed to provide financial support for infrastructure development and regional connectivity in Asia.

With authorized capital of 100 billion U.S. dollars, the AIIB prioritizes investment in energy, power generation, transportation, rural infrastructure, environmental protection and logistics.

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