AIIB Welcomes Canadian Review and Initiates Internal Review to Ensure Transparency

BEIJING, June 15, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) welcomes the review announced by Canadian Deputy Prime Minister and AIIB Governor, Ms. Chrystia Freeland, into the baseless allegations made by Mr. Bob Pickard, AIIB's former Director General of Communications, following the announcement of his resignation yesterday.

Ludger Schuknecht, Vice President and Corporate Secretary, said, "We welcome this review and will be cooperating fully. Transparency is essential to the trust of our 106 Members, our multilateral peers, our development partners, our community of civil society organizations, and the citizens we serve." 

Over the last 24 hours, Senior Management has been working closely with the AIIB Board of Directors to develop a response that demonstrates transparency, maintains trust in the Bank's multilateral character, and aligns with the Bank's high standards of governance. 

In addition to cooperating with its Canadian counterparts, AIIB will also be conducting its own internal review of the circumstances surrounding the resignation of Bob Pickard and the allegations he has made. This management review will be led by the General Counsel, Alberto Ninio. In the sidelines of the Board Retreat today, the AIIB Board of Directors met informally with Management and agreed to establish a group of Directors to which Management will report.

The review will be conducted in line with the Bank's governance frameworks and policies, including the Code of Conduct for Bank Personnel, the Staff Regulations, the Policy on Public Information and the Policy on Personal Data Privacy. 

Sir Danny Alexander, Vice President for Policy and Strategy, said, "Our Bank is extremely diverse. Our staff consists of 65 different nationalities, and our global membership now stands at 106. Our Bank is multilateral in spirit, character and practice. Our robust multilateral governance system and international leadership and staff ensures this. With a membership as diverse as AIIB's, a governance framework that incentives consensus building has been a cornerstone of our success to date and in the future." 

About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 106 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

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