India’s Dinesh Sharma elected to board of directors of china backed AIIB

Dinesh Sharma, Additional Secretary of Ministry of Finance has been elected to the 12-member board of directors of AIIB

• India is one of the founding members of the AIIB has been elected to the board of directors of the China-sponsored Asian Infrastructure Investment Bankwhich is expected to begin loan approvals before the end of this year. Finance Minister Arun Jaitley is the designated governor of the AIIB from India.
• This will be the first board of directors for the new bank in which 57 membersjoined a founding members.

Earlier former Chinese Finance Minister Jin Liqun was elected to head the bank based in Beijing after Russia withdrew its candidate.