China-backed AIIB taps former British minister
Britain was the first major Western country to announce its intention to join the AIIB
SHANGHAI (AFP) - The China-initiated Asian Infrastructure Investment Bank (AIIB), viewed by some as a rival to the World Bank, on Friday announced executive appointments including a treasury minister from Britain s former coalition government.
The bank, which started business in January, is already led by its president Jin Liqun, formerly a Chinese finance official who has also worked at the Asian Development Bank (ADB).
Liberal Democrat Sir Danny Alexander was number two at Britain s Treasury between 2010 and 2015 but lost his seat in parliament at last year s general election as his party was almost wiped out.
He will be one of five vice presidents for the AIIB, the lender said in a statement, as well as its corporate secretary, a role co-ordinating between the bank s management and members.
Britain was the first major Western country to announce its intention to join the AIIB.
The United States, and Japan -- the world s largest and third-largest economies, respectively -- have notably declined to join the bank.
"I will relish the challenge of being part of this new institution as it establishes itself as a crucial part of the multilateral landscape, supporting growth, tackling climate change and helping drive up living standards in Asia," Alexander said in a separate statement issued by his former ministry.
Britain has also secured one of the 12 seats on the AIIB s board of directors and will lead a constituency of members from Europe, the statement said.
The other vice presidents named Friday include a World Bank veteran, the chief of the Korea Development Bank and long-time civil servants from India and Indonesia, the AIIB said.
Joachim von Amsberg, currently vice president for development finance at the World Bank, was appointed to a policy and strategy role.
Kyttack Hong, chairman and chief executive of the Korea Development Bank, will be chief risk officer.
D. J. Pandian, who had a 30-year career in the Indian government, was named chief investment officer, with Luky Eko Wuryanto, who served in senior positions in the Indonesian government for two decades, chief administrative officer.
