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The Artanian Infrastructure Investment Bank (Dundorfian: Artanisch Infrastruktur Investitionsbank) is an international financial institution which aims to support the building of infrastructure throughout the Artanian continent. It became a massive private financial institution following the demise of the Artanian Union.
The AIIB, as it is commonly known, was a branch of the Artanian Union and was governed by the President of the Artanian Infrastructure Investment Bank and a Board of Directors which was composed of one member from each member state of the Artanian Union. These members were usually representatives from the member states' Ministry of Finance or others appointed by the head of state or government.
History[]
The Artanian Infrastructure Investment Bank got its start when Felix Stahl reformed the Artanian Union to be a much more centralized, supranational structure. Stahl, who had formerly served in numerous positions throughout the Dorvish, government had always envisioned a bank that operated for the people of the continent, a bank where member states could go to finance at low interest rates projects to help their citizens. At the first reorganization, the idea gained support but he did not press forward due to the massive reorganization, however, Stahl pressed forward and eventually the AIIB was formed and the member states signed the charter of the AIIB. The charter was initially signed by Dorvik, Rutania, Luthori and Darnussia, which formed the initial Board of Directors. Eventually, the remaining nations of the Artanian Union were added.
The AIIB remained relatively dormant until the Darnussian government asked for a loan to stabilize the ailing government. President of the AIIB Xaver Montag immediately went to the Board of Directors and asked for the majority of the AIIBs reserves, 5b ART. The Board agreed after several months of debate about the necessity of the loan. Eventually, the staunch pressure of Montag got through and the 5b ART loan was approved with a 10 year repayment and a 1.73% interest rate. The loan was eventually repaid and the loan was hailed as a victory for the AIIB. During the same time, Montag had arranged for several smaller loans which would keep the bank afloat and, at the final payment of the Darnussian loan, the bank would add nearly 1.2b ART to their portfolio.
The AIIB following the demise of the Artanian Union began to operate as a private bank by purchasing back or returning monies donated or lended to the AIIB.
Structure[]
Under the AU[]
The Artanian Infrastructure Investment Bank was headed by the President of the Artanian Infrastructure Investment Bank who was selected by the Board of Directors of the AIIB. The President was responsible for the overall direction of the AIIB and as responsible to the Board of Directors to invest where it is believed to be most needed and what would provide the most direct benefit to the member states of the Artanian Union.
The Board of Directors was comprised of one member from each member state of the Artanian Union. Each member state has one vote for President and cannot vote for itself, therefore ensuring that nations do not grid lock elections with votes for themselves. In the event of a tie, the President of the Artanian Union is the tie breaker vote. If the President's nation is in the running the vote then passes to the Board of the Artanian Commission who must unanimously vote to break the tie.
Private[]
The AIIB maintained a close structure to how it was run under the AU; except it had greater control over its operations. The President of the AIIB is selected by the Board of Directors, composed of various business, government and other officials, however the position eventually became a more ceremonial position as the CEO, appointed by the same board, began to take over day-to-day operations from the President.
Investments and loans[]
- The AIIB loaned a majority of its initial 5.4b ART to the Darnussian government. The loan was for 5b ART and was to be repaid over 10 years at an interest rate of 1.37%. The AIIB received its initial payment back plus 865m ART. President Montag stated that the loan had been the first successful major loan of the AIIB and it was a step in the right direction.
- Various smaller loans were sent out as the money from the Darnussian loan came back. The bank gained roughly 98m additional ART from smaller loans.