Former Reserve Bank of India (RBI) Governor, Urjit Patel has been appointed as Vice President of the multilateral funding institution Asian Infrastructure Investment Bank (AIIB) for a period of three years. He will be one of the five Vice Presidents of the AIIB. He is expected to take charge from February 2022. He will succeed outgoing Vice President D J Pandian, who is in charge of sovereign and non-sovereign lending of the AIIB in South Asia, the Pacific Islands and South-East Asia.
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Important takeaways for all competitive exams:
- President of Asian Infrastructure Investment Bank: Jin Liqun.
- Headquarters of AIIB: Beijing, China.
- AIIB established: 16 January 2016.