Increasing Chinese Influence in Central Asia has Shinzo Abe on the Move
Japanese Prime Minister, Shinzo Abe, recently visited six countries in Central Asia. Abe committed mass amounts of development funding in each country and hopes to invest in the economical potential that he see as mutually beneficial. China's increasing presence in the region, with the "One Belt, One Road" initiative and the AIIB, appear to be threatening Japan's influence in the region, which may have been an incentive for Abe's trip.
Georgia Strives to be Europe's Hub for Trade with Asia
Georgia's Prime Minister, Irakli Garibashvili, publicly announced his support for rebuilding the Silk Road to its original glory in order to facilitate trade between Europe and Asia. With two thirds of the world's population in the Silk Road region, Georgia seeks cooperation from surrounding countries in order to boost the region's economies without conflict. Georgia proudly hosted the inaugural AIIB meeting and hopes to continue to be a major player in regional development activities.
BRICS Bank and AIIB Interests and Members Overlap
Countries involved in the BRICS Bank have also signed on to work with the AIIB. Energy, transportation, and infrastructure are on the horizon for both development organizations in similar regions.
AIIB Well-positioned for 2016 Start
New Development Bank Vice President, Vladimir Kazbekov, reported that the bank is expected to make its first loans beginning in April 2016. The bank has already received loan applications and aims to become operational in early 2016. China’s AIIB is also slated to launch at the same time; China is currently accelerating the approval processes for the bank.
Denmark's Positive Outlook on Joining the AIIB
Denmark has recently signed on to join the Asian Infrastructure Investment Bank. Denmark’s Foreign Minister Krisitan Jensen reports that his nation Denmark is ready to partake in the Chinese Silk Road Initiative, and that he hopes the two nations retain steady bilateral cooperation. The statement reports that Jensen would like to support China-EU relations.
That's a wrap for the AIIB this week. Check back with our blog next Monday for another weekly update.
Interested in other IPD updates? Check out our all-team IPD BLOG!