AIIB set for next phase of development

Asian Infrastructure Investment Bank (AIIB) has appointed a new chief financial officer (CFO) “in preparation for the next phase of the bank’s development,” which includes a drive to help the energy transition in the region, particularly Southeast Asia.

Andrew Cross moved up from assistant CFO to CFO, replacing Thierry de Longuemar, who retired on Dec. 21.

Before joining the Beijing-based AIIB last May, Cross served as deputy treasurer at the World Bank group’s International Finance Corp.

Also given a new post was Konstantin Limitovskiy, former chief programming officer and senior adviser to the AIIB president, to vice president for investment operations.

Earlier, AIIB earmarked a kitty of up to $100 million for the Swiss-initiated SUSI Asia Energy Transition fund and related projects, particularly microgrids that would be installed in Southeast Asia.

AIIB said in a statement its board of directors had approved a commitment of up to $50 million for the fund and up to $50 million for co-investments with the fund. INQ