What is AIIB?
- A regional based (Asia and Oceania) international, multilateral development bank.
- A regional based (Asia and Oceania) international, multilateral development bank.
- Its headquarters are in Beijing China but with offices around the world.
What is the legal framework of AIIB?
- The AIIB Articles of Agreement
- The AIIB By-Laws
- Environmental and Social Frameworks
- Risk Management Framework
What is the purpose, functions & objectives of the AIIB?
Purpose
Under Article 1 of the Bank’s Article of Agreement, its purpose includes; 1.To foster sustainable economic development, wealth creation and improve infrastructure connectivity in Asia through Investment mainly in infrastructure 2.To promote regional cooperation and partnership in addressing challenges of development
Functions
Under Article 2 of the Articles, its functions include; 1.Promotion of investment for public and private capital in infrastructure mainly in infrastructure 2.Distribution of resources for harmonious economic growth 3.Mobilize and encourage private investment and supplement it in case its lacking.
Objectives
From policy statements, its operating documents and scholarly articles we can gleam that some of the objectives for the creation of the bank included; 1.Complementing the existing International Financial and Multilateral Development Finance systems like the International Bank for Reconstruction and Development, the Asian Development Bank, African Development Bank etc., through partnerships and cooperation. 2.Providing alternative finance to its member states.
Listen to the full discussion at – https://www.youtube.com/channel/UCjRLrzuE27gAl0Wb4f3AYhA
Access the summary document on the discussion at – https://54ishare.com/the-asian-infrastructure-investment-bank/
