The Asian Infrastructure Investment Bank (AIIB) is a multilateral international financial institution that supports infrastructure projects in the Asia-Pacific region. The bank was proposed by the government of China and is supported by 38 regional and 20 non-regional members, with 22 prospective members.
President Xi Jinping considers the Bank to be a practical method for achieving his "One Belt One Road” vision, which would recreate the historic Silk Road that connected China to the Mediterranean, the Middle East and Western Europe, through Central Asia. The One Belt One Road is also supported by China’s Export-Import Bank, the China Development Bank, and a variety of economic partnerships with states located on the Belt and Road.
The first news reports about the AIIB appeared in October 2013, stating that the Chinese government had been frustrated with what it regards as the slow pace of reforms in governance methods in other multilateral banks, and wanted greater input in global institutions. Even in China's own backyard, the U.S. holds greater voting power that China in the Asian Development Bank (13% v. 5.5%).
While the U.S. and its allies dominate the existing multilateral banks and are slow to reform the institutions, China is moving ahead as a leader of its own institution, leaving the U.S. and Japan to worry about China's increasing global power.
The IPD Chinese Development Finance team will be tracking global news and opinions regarding the AIIB and general Chinese development finance. Check in on our blog for regular updates and policy briefs.
Task Team Leader – Elizabeth Teare
Graduate Research Affiliates – Siyu Luo, Laura Richards, Jessie Chi-Hsian Chu, Patrick Harned
Undergraduate Research Affiliates – Amelia Hsieh, Shuming Chen, Ethan Masucol, Felix Clevenger, Jessie Yin, Jordan Hudson, Thomas Sipp, Varun Hukeri, Devon Hsiao, Jared Hrebenar, Yanrong Zeng, Keeton Schenck, Simon Menet
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