AIIB appoints new five VPs, one from Indonesia

Luky is the second executive from Indonesia who sits in the board of executive. Previously, former Head of Fiscal Policy Agency (BKF) at the Finance Ministry Andin Hadiyanto was appointed as an executive director of the Asian Infrastructure Investment Bank (AIIB). He and other new board members of the China’s backed agency was installed on Jan. 16.

The other newly appointed VPs are Danny Alexander as VP and Corporate Secretary, Kyttack Hong as VP and Chief Risk Officer, D.J. Pandian as VP and Chief Investment Officer, and Joachim von Amsberg as a VP and Policy & Strategy.

“This is an exceptionally strong and committed group who bring wide and varied experience and a wealth of expertise that will serve the Bank well as it commences operations. I look forward to working closely with them in the years ahead,” Announcing the appointments, AIIB’s President Jin Liqun said in a press statement.

Danny Alexander was one of the founders and leaders of the first UK coalition government since World War II. Sir Danny has over 20 years of professional experience. From 2010-2015 he served as Chief Secretary to the UK Treasury, where he secured more than £100 billion of public expenditure savings. He has played an active role in driving international cooperation on tax, trade and transparency during the UK G8 presidency.

A seasoned negotiator and communicator, Sir Danny has engaged with diverse stakeholders and partners on key public policies. He led the work on UK infrastructure policy and delivery, leading to the first National Infrastructure Plan which is now embedded as an annual process. He helped to establish the Green Investment Bank in the UK and to develop and implement the UK Guarantee Scheme for infrastructure.

Dr. Luky Eko Wuryanto has served in senior positions in the Indonesian government for 20 years, where he currently serves as Deputy Coordinating Minister for Infrastructure Acceleration and Regional Development, Coordinating Ministry for Economic Affairs. Under his leadership, the Committee for Acceleration of priority Infrastructure Delivery (KKPIP) oversees and coordinates the implementation of 225 National Strategic Projects totaling over US$100 billion and 22 priority projects totaling US$85 billion.

During his career, Wuryanto has honed his strong organizational, administrative, execution and management expertise working on projects in the ports, roads, transport, energy , electricity, water and sanitation and public housing sectors. He played a key role in reaching consensus on the financing structure of many mega infrastructure projects in Indonesia.

Dr. Kyttack Hong is the Chairman and CEO of the Korea Development Bank (KDB). In this capacity he led the merger of KDB, KDB Financial Group (which he previously led as Chairman/CEO) and the Korea Finance Corporation into a consolidated KDB to reflect the evolving financial landscape.

In this process he oversaw the organizational restructuring and human resources management, working with employees and management of the three institutions to improve organizational capacity and effectiveness. An economist and finance expert, Dr. Hong has had a career spanning over 30 years of public service and extensive experience as an outside director for a number of financial institutions, including the Korea Securities Depository, Samsung Credit Card Company, Tongyang Securities Company. Dr. Hong served as Professor and Dean of the School of Politics and Economics at Chung-Ahn University and Managing Editor of the Journal of Economic Development.

Dr. D. J. Pandian has had an extensive career spanning 30 years with the Indian Administrative Services, holding key positions at the State, National, and International levels in the energy (oil and gas, power, renewable), infrastructure, finance, and industry sectors. Dr. Pandian was instrumental in liberalizing the policy regime to attract international investment to crucial infrastructure sectors including power, airlines, ports and telecoms.

During his career, he has served in the Government of Gujarat in various capacities including: Chief Secretary; Additional Chief Secretary, Industries and Mines; and Principle Secretary, Energy and Petrochemicals Department. Dr. Pandian established the Gujarat Energy Research and Management Institute and has served as chairman, director and trustee with a number of state-owned enterprises.

Dr. Joachim von Amsberg is currently Vice President, Development Finance at the World Bank where he is responsible for the replenishment and stewardship of the International Development Association (IDA), the World Bank’s fund for the poorest, and for trust fund and partnership operations.

As Vice President for Operations Policy and Country Services, Dr. von Amsberg oversaw the World Bank’s results agenda with its increased focus on achieving, measuring and communicating operational results and introduced the Program-for-Results lending product. He was responsible for the Bank’s operational risk functions including policies on procurement, financial management, social and environmental safeguards.

He also oversaw the Bank’s modernization and reform agenda. During his 25 years at the World Bank he served as Country Director for Indonesia and the Philippines where he spearheaded the preparation of the country strategy partnerships together with the Governments and stakeholders, and managed the World Bank operational portfolios and analytical work programs. Dr. von Amsberg has authored a number of World Bank research reports and other publications.

AIIB is a multilateral development bank designed to give financial support to both government and private institutions for the development of infrastructure facilities in Asia. So far, 57 members has joined AIIB since its establishment in Beijing, China, on June 29, 2015.

Indonesia has injected US$672.1 million worth of capital into the AIIB, which it will pay within five years. Indonesia ranks eighth among countries with the largest capital in the multilateral bank.