Can the Asian Infrastructure Investment Bank (AIIB) rival the Asian Development Bank (ADB)? Justify your views. (Essay Sample)
Please include References.source..
Can the Asian Infrastructure Investment Bank (AIIB) rival the Asian Development Bank (ADB).
Can the Asian Infrastructure Investment Bank (Aiib) Rival the Asian Development Bank
The Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) are two important financial institutions that have played important roles in Asia. The Asian Development Bank formed in 1966 is more like the World Bank ,whose motto is to fight poverty in Asian and Pacific regions (Perlez,2015). Most developing countries, especially within the Asian regions, had a little say in World Bank activities, hence the creation of ADB to bridge the huge funding gap that existed between the demand and supply of capital in Asia and Pacific. Similarly, the Asian Infrastructure Investment Bank (AIIB) formed in the recent years in 2015 and is a multilateral development bank aimed at supporting infrastructure within Asian –Pacific regions (Suneja, 2017).
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