Trends and disruptors in multilateral finance: looking ahead with the Asian Infrastructure Investment Bank
00:00 – Sara Pantuliano (ODI) – introductory remarks and welcome to speakers
05:46 – Sir Danny Alexander (AIIB) – on the origins of the AIIB and the reasons behind its establishment; the lessons drawn from the first six years of the AIIB’s operations; the main innovations adopted by the AIIB (non-resident board and the bank’s business model/core values)
17:45 – Sir Danny Alexander (AIIB) – on the future direction of the AIIB (climate finance; cross-border connectivity); dealing with the pandemic and other crises (Russia-Ukraine war; food and fuel price shocks)
25:09 – Sir Suma Chakrabarti (ODI) – on the EBRD’s support at the very early stages of the AIIB: the need for MDB reform; the AIIB’s innovations; the challenges the AIIB faces
35:53 – Annalisa Prizzon (ODI) – on the challenges that might lie ahead for the AIIB to deliver on its mandate and be an effective institution without country offices; the changes needed to deliver a low-carbon transition
41:00 – Sir Danny Alexander (AIIB) – on the steps the AIIB has taken to involve independent members; whether the AIIB sees itself as a player in the MDB system; the AIIB’s climate survey and common ground with ODI’s research; the work the AIIB needs to do to make itself better understood
50:09 – Q&A session (Sir Danny Alexander) – What is the mechanism for the AIIB’s external accountability?
51:29 – Q&A session (Sir Danny Alexander) – Why does the poor standard of governance in beneficiary countries fail to get on the agendas of MDB board meetings?
52:43 – Q&A session (Sir Danny Alexander) – Should the AIIB be more ambitious with its financial commitments?
53:59 – Q&A session (Sir Danny Alexander) – How can cooperation be further improved among MDBs to accelerate joint financing of investment projects?
54:37 – Q&A session (Sir Danny Alexander) – Does the flexibility in the AIIB’s mandate mean the bank will expand its policy scope to include other domains in the future?
55:50 – Q&A session (Sir Danny Alexander) – Does the AIIB have any plans to establish a permanent concessional lending facility?
56:42 – Q&A session (Sir Suma Chakrabarti) – Why does the poor standard of governance in beneficiary countries fail to get on the agendas of MDB board meetings?
58:03 – Q&A session (Sir Suma Chakrabarti) – How can cooperation be further improved among MDBs to accelerate joint financing of investment projects?
59:00 – Q&A session (Sir Suma Chakrabarti) – How can ‘country capture’ be avoided when it comes to country offices?
01:00:40 – Annalisa Prizzon (ODI) – on the importance of not losing momentum on MDB reform
01:01:26 – Sara Pantuliano (ODI) – closing remarks
About the event:
Multilateral development banks (MDBs) have played a crucial role in supporting economic development and fighting poverty over the 70 years since the creation of the World Bank at the Bretton Woods conference.
However, the World Bank and major regional multilateral banks are considered by many – particularly in developing countries – to be too inflexible, bureaucratic and dominated by the political interests of wealthy non-borrowing shareholder countries.
Developing countries are now creating their own purpose-built bilateral, regional-bilateral and multilateral institutions to provide market-based public lending.
As part of a wider conversation around MDB governance reform, this panel discussion explores this development, with a particular focus on the achievements and challenges of the Asian Infrastructure Investment Bank (AIIB) – the newest MDB – and its future positioning.
Among other questions, the session asks the following:
- What lessons can we draw from the first six years of operations of the AIIB?
- Has the AIIB been a disruptor to the system of MDBs, as many argued when it was established?
- What is the AIIB going to look like in the future – its sectors of operations, modalities and engagement with client countries?
Find out more about our work on multilateral development banks.
- Think Change episode 12: do we need a new Bretton Woods agreement for the post-Covid era?
- Governance of multilateral development banks: Options for reform
- Why and how multilateral development banks should operate in middle-income countries
- Country perspectives on multilateral development banks: a survey analysis
Chief Executive, ODI
Sir Danny Alexander@dannyalexander
Vice President, Policy and Strategy. Asian Infrastructure Investment Bank
Sir Suma Chakrabarti@SumaChakrabarti
Chair of the Board of Trustees, ODI and former President of the EBRD
Senior Research Fellow, ODI