ps141e_econ.docx - Regional Institution Asian Infrastructure Investment Bank(AIIB Compared to ADB AIIB is relatively new in the region AIIB is a

ps141e_econ.docx - Regional Institution Asian...

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Regional Institution Asian Infrastructure Investment Bank (AIIB) - Compared to ADB, AIIB is relatively new in the region. AIIB is a multilateral development bank led by China and formed in 2015. Its main focus is to provide finance to infrastructure projects in the Asia region. Unlike other financial institutions like the IMF, the World Bank and ADB, are mainly dominated by developed countries like the United States, AIIB is led by a developing country, China. Of 57 founding members of the AIIB, 37 members from the Asian and Pacific region, 20 members are classified as non-regional. Asian Development Bank (ADB) - ADB is the Japan-led regional development formed in 1966. ADB was closely modeled on the World Bank. Its motto is “Fighting poverty in Asia and the Pacific.” ADB has put their focus range from energy, food security, environment and climate
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