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A man walks past the logo of the Asian Infrastructure Investment Bank (AIIB) at the headquarters in Beijing on June 15, 2023. — AFP
#Apolitical #AIIB #partnership #inclusive #development
Over the past year, the world has witnessed two major changes or earthquakes. First of all, President Trump announced a trade war and prepared a shock waves. It has shook the global economy, which was already facing serious problems, including debt, slow growth, climate change and inequality. Second, the United States has constantly pursued the Gulf project to revive and strengthen its economy. President Trump made his first journey to the Gulf countries to agree to approve the Gulf Plan. This is an important event in modern economic and diplomatic history. The United States, once the martial plan architect and finance, wanted investment and plans from Saudi Arabia, Qatar and the United Arab Emirates. This shows that traditional investment sources are gone, and the world is looking for alternative sources of funds. In this context, the Asian Infrastructure Investment Bank (AIIB) has gained immense importance in the past few years. It is a relatively Young young multilateral financial and development institution, yet it has established a strong presence due to its clear vision, well -defined targets and effective performance.
AIIB is an alternative investment place that President XI proposed in 2013 and was launched in 2014. The AIIB was established with the vision of “building infrastructure for tomorrow,” the principles of stability, innovation and prosperity for its people, with the vision of helping Asia in building a prosperous future. The organization has taken numerous steps to achieve these goals, including its sustainable cities strategies and sustainable energy for tomorrow, among others. AIIB is also helping countries to build modern solutions and technology to build future infrastructure, which can adhere to the principles of sustainable development and create economic activity and increase communication.
Since its inception, China, under the leadership of President XI, has ensured that AIB becomes a modern, modern, comprehensive, purposeful and governance institution. President XI imagined that the AIIB would have to discourage geographical politicals, who would discourage the first mentality before my interest, and the mainstream economic rationality, while preferring the principles of sustainability. AIIB will have to focus on eliminating the investment gap, as Asia faces a growing investment deficit by climate change. As a result, the global community, especially developing and at least developed countries, views AIIB as a fair, comprehensive and timely step that can help them meet their investment needs.
Review of previous years shows that from the beginning, the AIB is committed to fixed vision and goals, which has worked to eliminate the investment gap and meet the needs of its member states. It is constantly increasing its efforts in a number of sectors by financing governments and private entities. The list of projects is broad and diverse. It has provided financial support to 317 projects and programs, currently under a lot of approval. By 2024, it has provided US $ 60.59 billion for various interference worldwide. In addition, AIIB is focused on expanding its ability to access its members’ funds, which has expanded US $ 30.14 million to prepare the project.
AIIB also participated in the war against Kovide 19. It facilitated the crisis to speed up the funding process. In fact, it decided to provide US $ 13 billion by 2022. However, due to the demand, the availability of funds was later increased to US $ 20 billion. A special window was created to support production costs in the fight against Kovide 19. It was considered necessary to create flexibility and promote economic activities. Statistics show that by December 2023, AIIB has approved 68 projects, with a total of 18.48 billion US $. Special focus was on the needs of developing and low -income countries, which is 65 % of the total distribution of approved projects.
At the same time, AIIB was focused on future needs of the planet and infrastructure. It promoted infrastructure, which is in line with the needs of the fourth industrial revolution.
At the same time, the AIIB is working to set up partnerships with multilateral institutions and organizations, including the World Bank, Islamic Development Bank, Asian Development Bank, New Development Bank, European Bank for Reconstruction and Development (EBRD), African Development Bank, China, China, China, China, China, China, China, China, China, China, China, China, China, China, China, China), China Development Bank. Axium Bank, China XM Bank, China Xm Bank, China Xm Bank, China an XM Bank, China an Exim Bank, came.
However, AIIB was committed to the vision of President XI being a unprecedented organization that works independently. This commitment is clear in its decision -making process and the process of funding from it. For example, India is AIIB’s largest lender, which has borrowed about US $ 99.7 billion by 2024. In addition, Ayib has promised US $ 2 billion for the Philippines. The financial support comes despite the ongoing border dispute between China and India, and the Philippines has also created significant differences with China.
These factors have played an important role in the development and expansion of AIB. It started with a few members, and by 2024, 110 AIB members (42 in Asia, 26 in Europe, 22 in Africa, 10 in Oceania, 8 in South America, and 2 in North America). AIIB initially focused on Asia and the Pacific, but its commitment to development and participation has allowed it to extend its work to other continents. AIB is also active in Africa and Latin America, with a US $ 100 million project in Brazil, in addition to others. He has also invested in all the Saharan Africa. AIIB is clearly focused on projects that enhance regional contacts, such as a shared ASEAN 3 -year program that aims to improve connectivity within ASEAN.
Based on the aforementioned debate, we can draw two conclusions. First of all, AIIB is working to eliminate the investment gap by implementing sustainable production and consumption principles, creating livelihoods and wealth, and enhancing communication through environmentally friendly infrastructure. Second, it aims to bring new power for regional cooperation, promote the idea of partnerships, and to achieve the win by establishing a partnership with other multilateral, regional and bilateral institutions.
However, many experts believe that the AIIB was formed to tackle Western countries and institutions, such as the IMF and the World Bank’s exploitation and influence. Because the West has ordered these institutions to force its policies and nations to comply with it. Global South was tired of this system and called for reforms in these institutions, and advocated for re -counting of voters’ rights according to the unanimous formula: GDP (.5), openness (.3), economic change (.15), and an average of international reserves (.05). The West delayed the necessary reforms in the IMF, the World Bank and other Western majority institutions, rather than allowing the legitimate involvement and role in the management of these organizations. China, as an emerging power and an important voice in the global south, has repeatedly urged the West to listen to the concerns of the global South and immediately reform these institutions to tackle the challenges, but to no avail. Thus, instead of engaging in a dispute with the West, China chose a peaceful alternative and established AIIB.
Finally, AIIB is the first non -Western institution that is free from the influence of Western countries and the system. It is free from political interference and promotes the rule of law. It also indicates the appearance of a new China, which is ready to play an important and influential role globally. It further shows China’s dedication to understand the future and the dream of prosperity for all.
