Civil Society Statement to the Board of Directors of the Asian Infrastructure Investment Bank re: the AIIB Accountability Framework

A coalition of civil society organizations argues that the AIIB's practice of delegating project approvals to management undermines governance and accountability to shareholder governments and citizens. The statement calls for the Board to reconsider the concept of delegation entirely or, at minimum, ensure that high-risk projects, fossil fuel activities, and financial intermediary investments are approved by the Board rather than the President.

• The AIIB's current Accountability Framework allows the delegation of project approval power from the 12-member Executive Board to the bank's management, a practice the signatories claim "actively undermine accountability" by breaking the chain of responsibility between the bank, shareholder governments, and their citizens.
• Existing monetary thresholds for Board approval—$300 million for sovereign projects, $150 million for non-sovereign projects, and $35 million for equity investments—are viewed as insufficient because they do not account for potential environmental or community harms.
• The signatories request that the 2024 review of the Accountability Framework ensure the Board retains approval authority for specific high-risk categories, including all fossil fuel projects, projects in fragile and conflict-affected areas, financial intermediary investments, infrastructure investment trust (InvIT) projects, and those defined as 'Higher Risk Activities' under the Environmental and Social Framework (ESF).
• The statement calls for increased transparency, specifically requiring that any project delegated for Presidential approval be flagged on the AIIB website within 60 days and that risk assessment documentation be made available prior to delegation.

APA

Race, M. (2024). Civil Society Statement to the Board of Directors of the Asian Infrastructure Investment Bank re: the AIIB Accountability Framework. Recourse. https://re-course.org/newsupdates/csos-call-on-aiib-board-to-stop-delegating-project-approvals/

Chicago

Race, Madeleine. Civil Society Statement to the Board of Directors of the Asian Infrastructure Investment Bank re: the AIIB Accountability Framework. Recourse, 2024. https://re-course.org/newsupdates/csos-call-on-aiib-board-to-stop-delegating-project-approvals/.

Wikipedia

{{cite press release |last1=Race |first1=Madeleine |title=Civil Society Statement to the Board of Directors of the Asian Infrastructure Investment Bank re: the AIIB Accountability Framework |publisher=Recourse |date=18 March 2024 |url=https://re-course.org/newsupdates/csos-call-on-aiib-board-to-stop-delegating-project-approvals/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{race2024civil, author = {Race, Madeleine}, title = {{Civil Society Statement to the Board of Directors of the Asian Infrastructure Investment Bank re: the AIIB Accountability Framework}}, publisher = {Recourse}, year = {2024}, month = mar, url = {https://re-course.org/newsupdates/csos-call-on-aiib-board-to-stop-delegating-project-approvals/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }