AIIB has created an effective environment for its Board of Directors to take a strategic approach to direct and oversee the work of an accountable management. The Bank’s Accountability Framework is an innovative governance model that positions AIIB to embed a culture of accountability throughout the organization. This framework strengthens (i) the Board’s role in holding the President accountable and establishing AIIB’s policies and strategies and (ii) the President’s role in conducting AIIB’s business, including the delegation of projects under set conditions.
This governance model includes an Oversight Mechanism in line with principles of transparency, openness, independence and accountability. This innovative and flexible structure allowed us to act swiftly on the immediate social and economic needs of our Members during the pandemic, including more frequent and virtual meetings to facilitate the review and approval of projects and policies.