The Asian Infrastructure Investment Bank and the New Development Bank: China's multilateral moves

David Skidmore ()

Chapter 4 in China, the West and the Global Development Finance Regime, 2025, pp 95-115 from Edward Elgar Publishing

Abstract: This chapter examines China's multilateral development finance initiatives. We describe the essential features of the constellation of MDBs that make up the system of multilateral development finance. We then explore China's motivations for sponsoring two new MDBs: the AIIB and the NDB. This is followed by a comparison between the lending priorities, normative commitments, and design features of legacy MDBs with the AIIB and the NDB. We find that China viewed the AIIB as a vehicle for enhancing its legitimacy as a responsible, great power stakeholder within the global order. China considered the NDB a means for highlighting its leadership within and commitment to the Global South. Both institutions lean toward convergence with existing norms and, in doing so, serve to legitimize the MDB model that stands as a central pillar of the LIO.

Keywords: Multilateral Development Banks; Asian Infrastructure Investment Bank; New Development Bank; World Bank; Multilateralism; Legitimacy (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035334360
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