ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /ViewEconomyPolicy WatchChina DataCompaniesMarketsIndustriesViewMotoringTechGreen ChinaAIIB to benefit Asia and beyondBy Jin Liqun(China Daily)Updated:2015-12-28 09:10Comments Print Mail Large Medium SmallThe historic launch of the Asian Infrastructure Investment Banks operations in the coming weeks has been highly anticipated – and rightly so. With the start of operations, the AIIB will join the family of multilateral financial institutions in supporting broad-based economic and social development in Asia. Sound and sustainable infrastructure investment will lead to better development outcomes, improve the lives and livelihoods of Asias citizens, and generate positive spillover effects in other parts of the world.Over the past year, meeting with people from around the world and various walks of life, I have frequently been asked to explain why another multilateral development bank is needed, and how the AIIB will be different from, say, the World Bank or the Asian Development Bank.The answers are clear. The role and importance of Asia in the international arena have increased, yet the region faces severe infrastructure gaps and thorny bottlenecks. Asias infrastructure investment needs have grown exponentially, and the AIIBs resources, quite simply, will increase the pool of multilateral resources available to help meet them.There is, moreover, ample space for the AIIB to help its members to modernize roads, railways and ports; enhance access to electricity; expand telecommunications services; advance urban planning; and provide clean water and sanitation services. We will do it well. We will do it right. And we will do it collaboratively, as a reliable and complementary development partner.The AIIBs founding members have a clear management vision: We will set a clear and high bar for organizational performance and governance, by upholding openness, transparency, accountability, and independence as its core institutional principles.Our charter places direct accountability with the AIIBs management to ensure that these principles become organic values, not simply slogans.How will we do this? In drafting the AIIBs Articles of Agreement and policy framework, we have worked with a diverse group of international experts to draw lessons from the existing multilateral institutions and from successful private-sector companies. We have held extensive rounds of technical discussions with our shareholders to ensure that the AIIB reflects its owners goals and aspirations in both its lending activities and internal operations. I am confident that the banks policy foundation meets world-class standards. We are now recruiting a top-caliber management team and expert staff to ensure their effective implementation.In executing our mandate, our shareholders will see to it that the Bank learns from the past and recognizes the possibilities of the future – to do things differently and to do different things. Several of the AIIBs distinguishing features will facilitate this.For starters, the AIIBs unique ownership and shareholding structures reflect the institutions regional character and provide members with a greater voice in policy direction and decision-making. The rich dialogue among founding members during the development of the AIIBs Articles of Agreement and policy framework attests to our shareholders strong ownership of, and commitment to, the banks mandate and mission.Previous Page1 2 Next PagePrevious Page1 2 Next Page8.03KRelated StoriesAIIB set to convene in JanuaryAIIB formally set up, first loan expected in mid-2016Germany becomes AIIBs largest non-regional shareholderAIIB to play unique and irreplaceable roleAIIB outlines 5 core areas for investmentAIIB to lend up to $15b every year, says top officialAIIB open for business by end of yearPhotoTop 10 domestic crowdfunding platformsFlights delayed due to orange alert smog at Beijing AirportHK car show kicks off during Christmas season10 best cars from Car And DriverSanta Claus is busy in ChinaLincoln Navigator SUV crosses YunnanChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerTop executive of Infor has head in the cloud Zwilling stays at cutting edge of the kitchenware industryMost ViewedTodays Top NewsLocal marque aims high as efforts pay offBets on underdogs may give high returns to investorsChinese bargain hunters boost British e-retailersTurning on green light for clean carsRecord number of car recalls in China this yearShanghai crabs fill Taiwan farms and dining tablesUber-GAC deal to legitimize car-hailing service, boost salesChinas online retail volume to top other countries: Commerce ministerHot TopicsFiat SpA Peugeot SA Taxi app Internet finance Housing price Disneyland WeChatEditors PicksTop 10 best-performing third-tier cities in China Top 10 energy efficient cities in China Top 10 most attractive FDI destinations in the world Highlights at the Light of the Internet Expo SpecialsWorld Robot Conference 2015Made in China – fight against counterfeit goods2015 Beijing Forum for Emerging Markets…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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