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2017 | OriginalPaper | Chapter

16. Asian Infrastructure Investment Bank: Role and Implications for Emerging Asian Economies

Authors : Arindam Banik, Rajashri Chatterjee, Tirthankar Nag

Published in: Towards A Common Future

Publisher: Springer Singapore

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Abstract

The global financial crisis provides a number of reasons for Asia to develop infrastructure for regional connectivity, to achieve sustainable economic growth, strengthen competitiveness, create opportunities for business and reduce overdependence on the financial resources of the West. The Asian Development Bank (ADB) estimates infrastructure investment needs in the decade between 2010 and 2020 to be far more than what the World Bank or the ADB are able to finance. In this context, this chapter explores the background behind Asia creating the Asian Infrastructure Investment Bank (AIIB) and examines the infrastructure investment milieu in the Asia-Pacific Region. It puts forth the framework, purpose and functions of the AIIB along with the challenges faced with respect to the establishment of the bank in the existing global multilateral financial framework. The AIIB provides an opportunity for Asian economies that have long been under-represented in the existing global multilateral financial frameworks, to look to the bank to meet their infrastructure investment needs, provided the lending terms are competitive.

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Footnotes
1
 
2
Key Indicators for Asia and the Pacific 2015, ADB Publications, October 2015.
 
3
AIIB Homepage (Details as updated in July 2016): https://​www.​aiib.​org/​en/​index.​html.
 
Literature
go back to reference Ayako, M. (2016, September 22). AIIB Holdout Japan Risks Missing Out on the Infrastructure Contracts It Seeks. The Japan Times. Ayako, M. (2016, September 22). AIIB Holdout Japan Risks Missing Out on the Infrastructure Contracts It Seeks. The Japan Times.
go back to reference Bhattacharyay, B. (2010, September). Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010–2020 (ADBI Working Paper Series No. 248). Bhattacharyay, B. (2010, September). Estimating Demand for Infrastructure in Energy, Transport, Telecommunications, Water and Sanitation in Asia and the Pacific: 2010–2020 (ADBI Working Paper Series No. 248).
go back to reference European Commission. (2015, April 24). The Asian Infrastructure Investment Bank. EPSC Strategic Notes (1). European Commission. (2015, April 24). The Asian Infrastructure Investment Bank. EPSC Strategic Notes (1).
Metadata
Title
Asian Infrastructure Investment Bank: Role and Implications for Emerging Asian Economies
Authors
Arindam Banik
Rajashri Chatterjee
Tirthankar Nag
Copyright Year
2017
Publisher
Springer Singapore
DOI
https://doi.org/10.1007/978-981-10-5592-8_16

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