In AIIB’s First Year of Operation, Nine Major Infrastructure Projects Were Funded

In the article, “How China’s Asian Infrastructure Investment Bank Fared Its First Year,” Forbes‘ Sara Hsu wrote: “Looking back to 2016, we mark nine major development projects. [aiib] President Jin Liqun stated that the bank aimed to lend $1.2 billion in 2016, and it has more than met the target, extending over $1.7 billion of loans last year.”

Hsu pointed out that when the Asian Infrastructure Investment Bank was announced, critics feared that it would be used to advance China’s national interests only, while lowering environmental and human rights standards. However, that did not occur, thanks to able administration by the AIIB chief Jin Liqun. “Under President Jin’s guidance, the AIIB has worked up the learning curve under collaboration with its co-financiers. For example, the TANAP project, co-founded by the World Bank, piggybacks on the World Bank’s due diligence assessments.”

The AIIB carried out due diligence in conjunction with the World Bank for the Pakistan hydropower extension project, Hsu wrote. She noted the “AIIB as a body is helping China to bolster its One Belt, One Road (OBOR) policy, which seeks to create a Silk Road Economic Belt and the 21st Century Maritime Silk Road by increasing connectivity among countries.”

The article pointed out that AIIB loans to Azerbaijan can help to cultivate the China-Central Asia-West Asia economic corridor, which provides a land-based alternative to the mainly maritime-based routes used at present. “Although the AIIB’s commitment to Azerbaijan is in the opposite direction (moving toward Europe rather than toward China), the development of Azerbaijan is likely to lead to future opportunities for China,” the article added.

This entry was posted in LPAC, New Economic Order and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s