The Asian Infrastructure Investment Bank (AIIB) today has released the findings of its extensive Internal Review into recent allegations made by its former Director General of Communications who resigned on June 12, 2023, after 15 months of service.
The findings of the Internal Review concluded that AIIB follows the highest standards of multilateral governance, that its governance is functioning as intended, and that there was no evidence of undue influence on decisions taken by the Board of Directors or Management.
“The Internal Review found no evidence to support or validate the former Director General of Communications’ allegations,” said General Counsel, Alberto Ninio, who led the Internal Review. “The Internal Review confirms that AIIB’s governance structure functions as intended to deliver an apolitical, constructive, balanced and consensus-oriented decision culture.”
The Internal Review also found that, while AIIB’s culture is still taking shape as a seven-year-old institution, it is moving positively towards a high performing, open, and inclusive culture.
While the Review concluded that the allegations made by the former Director General of Communications are unsubstantiated and incorrect, the Internal Review identified recommendations in response to issues raised during its work. These include strengthening the Bank’s pre-recruitment screening processes, especially for leadership positions; improving the functioning of staff grievance mechanisms; and various initiatives to further strengthen the Bank’s corporate culture.
Dr. Luky Wuryanto, Vice President and Chief Administration Officer, said, “AIIB is committed to taking necessary steps to address these areas, as we continue to make our organization even stronger and better for our staff, our Members, clients and wider stakeholders.”
An ad-hoc group of the Board of Directors was established to oversee the Review. The Review, which was conducted between June 15, and June 26, 2023, covered a comprehensive examination of documentary materials and over 30 interviews, including the Bank's President, Senior Management, and staff members. AIIB’s Board of Directors has received the report and was briefed by the General Counsel on its findings and recommendations. The Directors look forward to working closely with the management as well as external expertise to further strengthen the organization in line with the recommendations.
“We are fortunate that AIIB’s Board and Management have a strong and trusting working relationship. Transparency with our Board is of paramount importance to us,” said Ludger Schuknecht, Vice President and Corporate Secretary.
AIIB’s commitment to transparency, integrity, and accountability remains resolute. “While we sought to quickly respond to recent events, AIIB’s commitment to our mission remains steadfast,” said President Jin Liqun. “Fostering sustainable economic development and improving the lives of billions of people in the members we serve, by investing in infrastructure for tomorrow. This is most important to our staff, our clients and our shareholders.”
