AIIB – “New players” on “financial playground

25/01/2016

Kết quả hình ảnh cho AIIB

Despite the continent with the most dynamic development, infrastructure platform of Asia is not developed at a high level. Therefore, a bank focused on providing capital to build roads, bridges, ports and telecommunications systems in Asia in order to build a foundation for economic development is a good initiative. Especially when Asia needs large amounts of capital to 800 billion USD in the period 2010 to 2020 (as in 2012 report  by ADB), the birth of AIIB contributes to solve the thirst of capital for this continent at present.
The financial mechanism has existed since after the Second World War as the World Bank and the IMF or ADB sometimes including many shortcomings in the implementation of economic policies, and often require countries to change the policy or management of appropriate mechanisms to obtain financial aid. AIIB goes backwards while China has pledged not to interfere in the internal affairs of countries receiving financial assistance sources. This approach has great appeal to the less developed countries, where most countries are not always ready and able to meet the requirements for the level of management, environmental standards and labor by the way of the developed countries. If it is effective, AIIB can be typical for the mechanism to support South-South development among developing countries in the future.
AIIB will officially come into operation after the opening ceremony with the conduct of the General Assembly to establish the Board of Directors, electing the Chairman and other management positions by sector, considering important policy documents such as business, finance and human resources. As usual, AIIB also be managed in three levels including the Board of Directors, the Board and management and administrator, in which all the powers of the bank belongs to the board of directors, each Member State needs a representative. This Committee conducts the annual meeting. Board of Directors consists of 12 members, meets periodically. Finally, the administrators are responsible for operating and everyday banking.

As to the date of December 25, 2015, 17 founding members have ratified the AIIB Agreement, accounting for 50.1% of the capital contribution, satisfying the conditions of effect for agreement. Vietnam joints AIIB as founding shareholders, this will help Vietnam to be added an important source for attracting investment into the infrastructure of the country.
Chia sẻ bài viết ^^
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