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New board of directors of AIIB is Dinesh Sharma from India [ Current News (Concise) ]

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The new board of directors of the China-sponsored Asian Infrastructure Investment Bank (AIIB) is Dinesh Sharma from India. Secret ballot has elected him as one of the 12-member of board. For the first time AIIB has which 57 nations as founding members including India involve.

  • In Beijing the inaugural meeting of the board of the governors of the AIIB was held.
  • And it was approved by-laws, rules and codes of conduct for the bank.
  • The designated governor of the AIIB is Union Finance Minister Arun Jaitley from India.
  • Mr. Sharma has represented him at the meeting.
  • Before Dinesh Sharma is selected as board of directors of AIIB, he was serving as Additional Secretary of Union Ministry of Finance.

Remark:

  • With this election of board of directors of the AIIB will helps India to approves the loans for projects.
  • With authorized capital of 100 billion dollars, AIIB is probably approvals loan before the end year 2016.
  • This will provide financial support for development of infrastructure and regional connectivity in Asia in sectors including energy, transportation, urban construction and logistics as well as education and healthcare.

- Published on: January 18, 2016