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2019 | OriginalPaper | Chapter

5. European Involvement in China’s Asian Infrastructure Investment Bank: Geopolitical Pragmatism or Normative Engagement?

Author : Lukas K. Danner

Published in: EU Development Policies

Publisher: Springer International Publishing

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Abstract

This chapter explores the process as well as impact of many European countries joining as founding members of China’s Asian Infrastructure Investment Bank. In a first part, the Bank’s establishment is being traced. The chapter then goes on to analyze the motivation of China to propose to found the AIIB as well as the motivation of Europeans to join the Bank. Finally, the chapter assesses the influence of the membership of some EU member states on the AIIB’s foundational documents and initial practice. In particular, it takes a look at the AIIB’s Articles of Agreement, its Environmental and Social Framework, but also general practices and statements by AIIB representatives. It concludes with a summary of findings.

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previous chapter The Biodiversity for Life (B4L) Flagship Initiative: The EU, Africa, and Biodiversity Conservation

next chapter Sino-Indian Relations and EU Development Policies in Post-Conflict Nepal

A prior version of this chapter has been published in parts in Danner (2018).

Signatory countries to the original Memorandum of Understanding were Bangladesh, Brunei, Cambodia, China, India, Kazakhstan, Kuwait, Laos, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, the Philippines, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan, and Vietnam (Xinhua 2015).

There is no evidence that the rejection of North Korea’s application was based on influence exerted by Western prospective founding members though the rejection could be interpreted as laying the groundwork for an organizational culture acceptable to Western signatories.

i.e., those that applied after the deadline of March 31.

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———. 2016. Environmental and Social Framework (in English). February. Beijing.

———. 2018. Members and Prospective Members of the Bank. Asian Infrastructure Investment Bank, October 8. https://www.aiib.org/en/aboutaiib/governance/members-of-bank/index.html. Accessed 9 Nov 2018.

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Title: European Involvement in China’s Asian Infrastructure Investment Bank: Geopolitical Pragmatism or Normative Engagement?
Author: Lukas K. Danner
Publisher: Springer International Publishing
Book: EU Development Policies
Print ISBN: 978-3-030-01306-6

Electronic ISBN: 978-3-030-01307-3

Copyright Year: 2019
DOI: https://doi.org/10.1007/978-3-030-01307-3_5

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