Update: In a significant move, which will have repercussions at multiple levels, the World Bank has pulled out of the $300 million lending to the Amaravati Capital City project in Andhra Pradesh. AIIB, which is a co-financer in the project, is still financing this project. Working Group on International Financial Institutions (WGonIFIs) and the affected communities of the Amaravati Capital City Project has welcomed the decision. The media coverage of the World bank’s decision can be accessed here.
The Asian Infrastructure Investment Bank (AIIB) is a new international financial institution which became operational on 16th January 2016. The AIIB describes itself as “a multilateral development bank conceived for the 21st century”, and states that its core purpose is to fund infrastructure development projects in the Asia-Pacific region. The AIIB is seen by many as a Chinese-led initiative, partly aimed at challenging the disproportionate influence and control which Western countries have over the Bretton Woods institutions (the World Bank and the International Monetary Fund) which are the major international financial institutions at the global level. Thus it can be seen as a challenge to current global economic and political power dynamics and status quo and part of a global shift of power from the West to the East. However the AIIB is also seen as a means to pursue mercantile interest as well, enabling China to put some of its stockpile of foreign reserves into funding infrastructure development across Asia, to facilitate greater access to markets for its products, and to promote its ‘One Belt, One Road’ and New Silk Route initiative, linking Asia and Europe by sea, rail and road. How far the AIIB actually advances the implied challenge to existing financial institutions remains to be seen, however, as it begins operating and lending: in recent months the language coming from the bank has continually stressed partnership and cooperation, representing the AIIB as complementary to, rather than in competition with, Bretton Woods institutions.
Indian groups submit recommendations for AIIB’s review of their Environmental and Social Framework The Asian Infrastructure Investment Bank (AIIB), after four years of its operations, is undertaking a review of its environmental and social...
This mapping document looks at infrastructure sector in India, its basic concepts, estimates by the Government of India, the World Bank (WB), Asian Development Bank (ADB), International Finance Corporation (IFC), Asian Infrastructure Investment Bank...
The Asian Infrastructure Investment Bank (AIIB) came out with a draft Water Sector Strategy in September 2019. The water sector analysis was developed based on the information in the water sector analysis brought out...
IFC’s Opportunistic $ 24.7 trillion Global Green Investment Plan Adding to the global narrative on low-carbon investments, World Bank Groups’ private lending arm International Finance Corporation’s recent report – Green Buildings: A Finance and...
The Asian Infrastructure Investment Bank (AIIB) approved a lending for Mumbai Urban Transport Project (MUTP) Phase 3 for $500 mn. According to a release from AIIB, “A loan of USD500 million granted to the government of...
AIIB’s newly wrapped ESG investments: Asia ESG Enhanced Credit Managed Portfolio Project After fifty investments being approved and many more in pipeline, along with much criticism against India’s Infrastructure Fund , National Infrastructure Investment...
AIIB has come under severe criticism over its opaque policies with regards to Financial intermediary (FI) investments as well as its over-reliance on and delegation of power to the FI client. AIIB currently has...
This booklet is a first in a series that looks to provide an overview of the smart cities at a conceptual level, smart cities mission in India, development of smart cities globally, the role...
Press Release | July 23, 2019 After the World Bank, Asian Infrastructure Investment Bank Pulls Out of Amaravati Capital City Project New Delhi: The China-led Asian Infrastructure Investment Bank (AIIB) pulled out of Amaravati Capital...
विश्व बैंक ने अमरावती कैपिटल सिटी परियोजना से हाथ खींचा, लोगों को मिली बड़ी सफ़लता प्रेस विज्ञप्ति | 20 जुलाई, 2019 एक बड़े ऐतिहासिक कदम, जिसका प्रभाव कई स्तर पर देखने को मिलेगा, उठाते...
With large infrastructure projects at the core of its investment support strategy, it is essential for the AIIB to ensure that their funds are directed to sustainable investments. In a country like India, where...
The AIIB has developed into a major player in the global financial architecture in record time: It first became operational in January 2016, and as it completes its third anniversary in 2019, the Beijing-based...
It is being emphasised quite often that the infrastructure sector is a crucial driver for the Indian economy. The sector would be responsible for propelling India’s overall development and enjoys intense focus from the...
As per the Early Warning System, which collects and verify information about the proposed and existing projects, India, in 2018, had 112 active or proposed projects funded by Development Finance Institutions (DFIs). These institutions...
The Transmission System Strengthening Project is a project to expand the interstate transmission network in western and southern India. The project, partly funded by ADB and AIIB (as co-financer) along with the Power Grid...