AIIB apolitical organisation, work for development of every member nation, says its president

Ruling out any impact of tension between China and India on investment decisions, Beijing-based multilateral funding institution AIIB on Tuesday said it is "apolitical institution" and looks after at any project from the economic and financial point of view.

Ruling out any impact of tension between China and India on investment decisions, Beijing-based multilateral funding institution AIIB on Tuesday said it is "apolitical institution" and looks after at any project from the economic and financial point of view. Asian Infrastructure Investment Bank (AIIB) has enjoyed very good cooperation with India since the very beginning and it has played a key role in board and other areas, the bank's president Jin Liqun said in interaction with global media after the fifth annual meeting.

India is a founding member of the multilateral funding agency with the second highest voting share. Currently India has 7.65 per cent vote share in the AIIB while China holds a whopping 26.63 per cent stake in the organisation that was set up in 2016. "AIIB is a multilateral development bank. It is an apolitical institution. The management would look after the proposed project for this bank from the economic and financial point of view," Jin Liqun said when asked if India-China border clashes could affect AIIB's future investment plan regarding India.

"We would like to see that the member countries will work together to support this institution, which in turn would make it possible for this bank to help each and every member of this bank," he emphasised. The border tension which erupted between two nations in May is now being handled diplomatically. According to reports, border troops of both countries have disengaged in most locations following close communication via military and diplomatic channels.

Jin Liqun has been elected to a second term as president by the Board of Governors of the Beijing-based multilateral funding institution.   President Jin’s second five-year term will begin January 16, 2021..