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Global Standards in the Asian Infrastructure Investment Bank: The Contribution of the European Members

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  • Giuseppe Gabusi

Abstract

In 2015, seventeen European states joined the Asian Infrastructure Investment Bank (AIIB) as Founding Members. France, Germany, Italy and the United Kingdom, among the group, have the largest share of capital and votes, giving them significant voice in the Bank. The purpose of the European members in joining was mainly twofold: (i) to help increase financial flows available for investment infrastructure in Asia; and (ii) to help ensure that the new Bank would adhere to global financial, environmental and social standards, as established by the existing multilateral development banks (MDBs). It can be said that the Europeans have largely succeeded. Existing MDBs have served as models for the standards which the AIIB is institutionalizing. However, some European‐based civil society organizations are increasingly critical of the operations of the AIIB. Moreover, some developing countries may see the AIIB's standards as an unnecessary burden. It can therefore not be assumed that the AIIB will continue to expand its portfolio by merely complementing the existing MDBs.

Suggested Citation

  • Giuseppe Gabusi, 2019. "Global Standards in the Asian Infrastructure Investment Bank: The Contribution of the European Members," Global Policy, London School of Economics and Political Science, vol. 10(4), pages 631-638, November.
    • Handle: RePEc:bla:glopol:v:10:y:2019:i:4:p:631-638
    DOI: 10.1111/1758-5899.12738
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    Cited by:

    1. Nanni, Riccardo, 2021. "The ‘China’ question in mobile Internet standard-making: Insights from expert interviews," Telecommunications Policy, Elsevier, vol. 45(6).
    2. Hai Yang, 2023. "Rhetorical coercion, institutional legitimacy and the creation of the Asian Infrastructure Investment Bank," Global Policy, London School of Economics and Political Science, vol. 14(5), pages 730-741, November.
    3. Ayse Kaya & Byungwon Woo, 2022. "China and the Asian Infrastructure Investment Bank (AIIB): Chinese Influence Over Membership Shares?," The Review of International Organizations, Springer, vol. 17(4), pages 781-813, October.
    4. Kaya, Ayse & Kilby, Christopher & Kay, Jonathan, 2021. "Asian Infrastructure Investment Bank as an instrument for Chinese influence? Supplementary versus remedial multilateralism," World Development, Elsevier, vol. 145(C).
    5. Laerte Apolinário Júnior & Felipe Jukemura, 2022. "A comparative analysis of the environmental and social policies of the AIIB and World Bank," Global Policy, London School of Economics and Political Science, vol. 13(5), pages 694-709, November.

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