No plan to set up resident board in Beijing, says AIIB chief economist

Berglof said AIIB wants to do it differently from how other multilateral developments banks have done

The Asian Infrastructure Investment Bank (AIIB) doesn’t have any plan to set up a resident board in Beijing as proposed by Union Finance Minister Nirmala Sitharaman last year, in order to maintain a lean and agile organisational structure, AIIB Chief Economist Erik Berglof said.

AIIB currently has a non-resident board comprising 12 board of directors. In case of a resident board, the board of directors would live in the headquarters, having their offices, and working full time with the multi-lateral development bank (MDB). In the case of the World Bank and Asian Development Bank (ADB), the board of directors sits in