UNIVERSAL RECRUITMENT, UNIVERSAL PROCUREMENT
Jin said he was proud that the AIIB has two features that the established banks don't claim: universal recruitment and universal procurement.
"The existing institutions only recruit nationals whose countries are the members. We recruit everyone from across the world," he said, noting the AIIB has recruited American employees although the United States is not a member of the bank.
"We don't look at your passports. We look at your track record, professional and ethical integrity," he said.
Universal procurement means any country, whether a member of the bank or not, can compete for contracts of the bank through open competitive bidding processes, Jin explained.
"Japan and the United States are not members yet, but their companies will be treated equally and fairly if they are interested in bidding," he said.
"So we claim these two major features. It's truly a multilateral international institution by the highest possible standards," Jin said.
EARNING CREDIBILITY BY PERFORMANCE
Jin said the AIIB approved loans worth 1.73 billion U.S. dollars covering quite a number of sectors, particularly pushing for green economy, in the first year in operation.
About 25 percent of the lending programs were prepared by the bank's own professional staff, while 75 percent were co-financing programs with the World Bank, the ADB, and other development banks, he said.
The bank's total approved membership has been expanded to 70 and there could be a total of 85 members across the world by the end of this year, according to Jin.
"Credibility has to be earned through not what you talking about but what you doing by your performance," he said. Canada and some other countries decided to join the bank after eight month of the bank's operation, which Jin believed is a vote of confidence.
"We know what we are doing is the right course of action, because we intend to work with all participating countries to promote broad-based economic and social development in Asia and in other emerging market economies across the world," the bank chief concluded.
