The Asian Infrastructure Investment Bank (AIIB) released an extensive report on Friday, addressing allegations made by a former employee and dismissing them as “unsubstantiated and incorrect.” The report reinforces the bank’s commitment to transparency, integrity, and accountability.
The internal review was conducted following allegations made by Bob Pickard, the former global communications director of AIIB, who claimed that the bank was “dominated” by the Communist Party of China (CPC) and questioned its governance integrity. The AIIB report found no evidence to support these broad allegations and highlighted that political influence has never affected policy and strategy discussions or decision-making processes within the bank.
The report reaffirmed that the AIIB adheres to the highest standards of multilateral governance, with no evidence of undue influence on the board of directors or management. It emphasized the apolitical nature of the bank’s approach to project approval and refuted any interference by staff members’ political affiliations.
Alberto Ninio, the bank’s general counsel, stated that the internal review confirmed AIIB’s effective governance structure, ensuring a constructive and consensus-oriented decision culture. The report also noted that Bob Pickard resigned in June and left China, citing safety concerns, despite having bank immunity during his tenure. The review found no evidence of a safety risk or any request for AIIB’s assistance regarding his safety.
Following Pickard’s remarks, the Canadian government announced an immediate halt to all government-led activity at AIIB and initiated a review of the allegations raised and Canada’s involvement with the bank. Chinese experts criticized the allegations, viewing them as part of Western countries’ efforts to “de-risk” from China.
The AIIB, headquartered in China and supported by its largest shareholder, plays a crucial role in international finance. Its Lean, Clean, and Green core values have garnered recognition for their high standards, and the bank’s credit ratings have consistently remained top-tier. China’s participation in establishing global and regional institutions like AIIB has facilitated development in numerous countries.
The AIIB report also identified recommendations for improvement, such as enhancing pre-recruitment screening processes and strengthening staff grievance mechanisms. The bank remains committed to its mission and continues to support economic development and the improvement of communities’ quality of life through sustainable infrastructure financing.
Since its inception in 2016, AIIB has approved over 212 projects totaling more than $40 billion in 33 member countries, contributing to positive socio-economic outcomes, according to official data.