MJIEL Vol 14 Issue 2 2017 - New Development

New Developments
 
Financing of Investment Projects at the AIIB:
Institutional Set-up and First Experiences
Gerard J. Sanders
 
1. AIIB’s Vision of an Asian Future
A vision of a shared Asian future, one in which all countries and territories may participate in creating, is reflected in the charter of the most recent multilateral development bank established in the region, namely the Asian Infrastructure Investment Bank (the AIIB or the Bank). The purpose of the institution, as reflected in its Articles of Agreement, is to ‘foster sustainable economic development, create wealth and improve infrastructure connectivity in Asia’. The charter recognizes that realizing the vision of an Asia that is developed, wealthy and connected will require investment in infrastructure and what, in undefined terms, is expressed as ‘other productive sectors’. The Bank’s constituent document also calls for the promotion of ‘regional cooperation and partnership in addressing development challenges’ to be achieved by the AIIB working ‘in close collaboration with other multilateral and bilateral development institutions’.

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