The UK’s role in the Asian Infrastructure Investment Bank
Chancellor of the Exchequer George Osborne announced in March 2015 that the UK would to seek to join the Asian Infrastructure Investment Bank (AIIB), an initiative proposed by China in 2013. In December last year, the UK became the first country outside Asia and the first G7 member to ratify the Articles of Agreement of the AIIB. With a capital of US $100 billion, the AIIB will have around half that of the World Bank and two-thirds of the Asian Development Bank. Speaking in October the President Designate of the Bank Jin Liqun stated that the purpose of the bank was ‘to promote broad-based economic and social development through infrastructure investment in Asia’.
To discuss the development of the AIIB and the UK’s role within it Shona Riach, Director for International Finance at HM Treasury, will join Asia House corporate members for a private briefing.
Shona Riach, Director International Finance, HM Treasury is responsible for international policy towards the G20, G7, IMF, financial sanctions and international development.
Shona joined HM Treasury in August 1995 and since then has undertaken a range of policy and economics jobs with career anchors in tax and international policy making. Her experience includes leading the team responsible for HM Treasury’s EU strategy and economics during the first phase of the euro area debt crisis; leading the team responsible for the development of environment, energy and transport taxation; and secondments to the UK delegation to the IMF and to the British Embassy in Paris.
This event is open to Asia House corporate members only.
For further information, please contact: Jeremy Wimble, Business & Policy Team at firstname.lastname@example.org or call 0207 307 5454.