TEMPO.CO, Jakarta- Indonesia will propose three candidates for the Asia Infrastructure Investment Bank's (AIIB) board of directors, said Sofyan Djalil, the National Development Planning Minister. The multilateral institution is scheduled to begin operations in early 2016,
"We are still in the process of selecting [the candidates], the terms will be quite tight," Djalil said hereon Friday, November 27.
Aside from government officials, said Sofyan, the candidates could also be professionals that come from non-governmental backgrounds. The minister was reluctant to reveal the names of the three candidates.
"They will compete with candidates from other founding countries," he said.
The AIIB agreement was signed in July, where the government said they will deposit a capital of US$672.1 million. With that, Indonesia is the eighth largest shareholder of the 57 founding countries.
The AIIB will only focus on infrastructure funding, in contrast to the Asian Development Bank (ADB) and the World Bank that serve to finance for the development of an array of different sectors.
ANTARA | RR