Bangladesh is hosting nearly one million Rohingya refugees—mostly crowded into in one of the country’s less-developed areas, Cox’s Bazar. A minority population in Myanmar, stripped of citizenship in the 1980s, the Rohingya have been denied access to education, meaningful livelihoods, and other basic rights for years. Now as refugees in Bangladesh, Rohingya need protection and support to secure health services, safety, food, education, and other opportunities.
CGD Policy Blogs
In advance of adopting a new Policy on Public Information, the AIIB is inviting suggestions on how it could best align public disclosure with its guiding principles of “promoting transparency, enhancing accountability and protecting confidentiality.” The adoption of the new policy provides AIIB President Jin Liqun and the AIIB shareholders an opportunity to demonstrate that this newest of multilateral development banks (MDBs) is serious about its commitment to adopting international best practices. I identified a number of actions that the AIIB could take to improve its disclosure practices. Here are my top three recommendations:
Last week the Asian Infrastructure Investment Bank’s (AIIB) board of directors approved financing for three projects, including, for the first time, a project in China. Looking back at AIIB operations to date, these are my three takeaways.
World Bank President Jim Kim is hoping the bank’s 189 shareholders will agree to increase the current capital of the bank’s “hard” window sometime in 2018. But the US wants to link any support for a recapitalization to World Bank “graduating” China—and perhaps other member countries with good access to private capital markets who don’t seem to “need” the World Bank. There are sensible arguments on both sides of this divide.
This week, as world leaders meet in Washington, DC for the Annual Meetings of the International Monetary Fund and World Bank, they will be discussing ways to reduce global poverty and inequality. At the Center for Global Development we're addressing the question, what are the next frontiers in global development?
The Asian Infrastructure Investment Bank's (AIIB) second loan to Tajikistan in the space of a year raises questions about lending on “hard terms” to poor countries. In its eagerness to meet the investment needs of Asian countries, is the AIIB going to get burned by lending at non-concessional rates to poor countries? Or, if a country becomes unable to pay all its bills, will it treat the AIIB as a preferred creditor and prioritize debt service payments over the needs of the poor?
If one thing is for certain following the CGD event, the “Asian Development Bank at 50,” the ADB’s work is far from done, and there will be no lack of ambition on the part of the US government and the bank’s other shareholders when it comes to a forward-looking agenda.
When the Chinese government launched a new multilateral development bank (MDB) with “infrastructure” in the name—the Asian Infrastructure Investment Bank (AIIB)—it hardly seemed far-fetched to assume a strong Chinese preference for infrastructure-related MDB financing. Everything we know about China’s bilateral development financing suggests the same. Yet, a closer look at the AIIB’s charter suggests openness to a broader range of sectors and activities, pointing to potential for investments in “other productive sectors.”
Coloring Outside the Lines: How CGD Helped the Asian Development Bank Unlock Billions More in Development Funds
This blog is part of a special series celebrating CGD’s 15th anniversary in 2016. All year, CGD experts will look back at work we’ve done that has had real-world impact, and forward to future research that we hope will help increase global prosperity.
The Asian Infrastructure Investment Bank’s new articles of agreement contain a great deal of information about shareholding and governance in the new institution. However, the articles require some additional analysis in order to answer key questions about voting power and board composition. Based on the information provided, we are able to generate voting shares as well as some preliminary conclusions about the composition of the AIIB’s board of directors.