With the Asian Infrastructure Investment Bank has just completed its five-year startup phase, general counsel Gerard Sanders will be leaving his role at the helm of the legal team he has led since the bank’s inception. Here he talks to China Business Law Journal about his masterplan and how the global crisis has changed the bank’s focal point
The Asian Infrastructure Investment Bank (AIIB) officially turns five this January, marking the end of its startup phase and a new role for Gerard Sanders as a senior adviser to the president and general counsel emeritus at the institution. Sanders has been with AIIB shortly after its establishment in 2015 as a general counsel, creating the legal framework that has enabled the bank to invest with multiple jurisdictions on projects with the potential to change the lives of millions.
During these initial years, the bank has established a good record of achievement, with a strong capital base, a triple-A credit rating and known capability of fundraising competitively in international markets. Its membership has grown from an initial 57 to 103 countries and one territory, Hong Kong, including 46 regional members and 39 non-regional members, plus 18 prospective members whose membership applications have been approved by the bank, and where the ratification or accession processes are being completed.
Click here to watch the video of this interview with Gerard Sanders