China said to propose inclusion of non-Asian states on AIIB board

Manila

CHINA is proposing to include non-Asian countries on the board of the Asian Infrastructure Investment Bank (AIIB) in a move interpreted by some nations as giving small shareholders a voice in the institution, the Philippines' finance chief said on Wednesday.

The planned governance mechanism of the China-backed AIIB includes a provision that prevents any country from having more than one seat on the 12-member board of directors, Cesar Purisima told reporters.