Balancing Act: India and China in the Asian Infrastructure Investment Bank

Ajay Bhushan Pandey, Vice President of the Asian Infrastructure Investment Bank (AIIB), affirms that ongoing tensions between India and China have not disrupted the bank's operations, where both nations are leading investors. In a comprehensive interview, Pandey dispels the notion of AIIB as a 'Chinese bank,' underscoring its multilateral and inclusive governance.

China holds the largest voting share at AIIB with 26.54%, and India follows with 7.58%. Despite the absence of the US and Japan, the AIIB's governance structure, requiring a 75% supermajority for decisions, ensures neutrality. The bank has approved 310 projects across 38 countries in nine years, with India as the largest borrower.

The AIIB, headquartered in Beijing and established in 2016, hosts its 10th annual board meeting amid speculations about its identity. Pandey asserts that the bank's 670 diverse staff members and inclusive project selection process further refute notions of Chinese dominance, highlighting India's significant $11 billion portfolio.

(With inputs from agencies.)