Urjit Patel, former Reserve Bank of India (RBI) governor was appointed as the vice president of the Asian Infrastructure Investment Bank (AIIB).

As per reports, the former RBI governor will serve for a three-year term as one of the multilateral development bank’s five vice presidents.

He will be replacing the former Gujarat Chief Secretary D.J. Pandian who had been, as Vice President, leading the AIIB’s investment operations and all sovereign and non-sovereign lending in South and Southeast Asia.

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On the other hand, Jin Liqun from China was re-elected for a second five-year term last year to serve as the president.

Patel in 2018 citing some personal reasons, resigned as the RBI Governor.

He served the RBI as governor for two years.

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As per reports, the AIIB has funded 28 projects in India which amounts to $ 6.7 billion.

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