In defence of the AIIB

The personal and wild accusations that Robert Pickard shared about the Asian Infrastructure Investment Bank are far from the reality of its conduct of business as I know it (By Invitation, August 19th). In my involvement with the AIIB as a member of the International Advisory Panel for the past few years and my interactions with its president, Jin Liqun, and other senior officers and staff, I have observed a professional, transparent, open, well-governed and forward-thinking organisation with a very diverse and international group of managers.

In comparison with other multilateral banks I find the AIIB to be less bureaucratic and more nimble, but equally adhering to Western-style governance protocols. In my experience, President Jin and the AIIB management were always receptive to the advice and recommendations of the advisory panel. President Jin is very well regarded and respected in the international financial community. He is a professional and a strong advocate of good governance.

Moreover, as someone who frequently engages with the AIIB’s management I have never observed any instance of interference by the Chinese government or the Chinese Communist Party. AIIB staff comprise around 50 nationalities from around the globe.

The AIIB plays an important and effective role in the financing and development of much-needed infrastructure in the region, supporting sustainable economic development and poverty reduction. In many instances, it has done so in collaboration with the other multilateral development institutions. It has also initiated innovative solutions, especially in green and ESG (environmental, social, governance) financing.

I am very concerned that the wild allegations of Mr Pickard may undermine the good work of the AIIB. I urge your readers and other stakeholders of the AIIB to consider the valuable contributions that it has achieved to date measured against these claims. Jose Isidro N. Camacho Former secretary of finance in the Philippines Manila