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China’s rise takes centre stage at ADB annual meeting

By Nantiya Tangwisutijit

China’s growing economic influence through the One Belt, One Road initiative and the newly operational Asian Infrastructure Investment Bank were key topics of discussion at the Asian Development Bank’s annual conference in Frankfurt this week.
The Chinese-led AIIB has 57 founding members with others expected to join. The One Belt, One Road (OBOR) project aims to strengthen infrastructure on the land and sea routes from China through Central Asia and Southeast Asia respectively – incorporating some 60 separate states.

Both initiatives affect Myanmar, as a member country of the AIIB and as a host to Chinese OBOR infrastructure projects – including a recently approved US$3 billion refinery near the southern city of Dawei.

With AIIB, Nation Diversifies Funding Options

By Nantiya Tangwisutijit

Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs.

Launched in Beijing last weekend, the multilateral development bank aims to support infrastructure growth in the Asia-Pacific region through the provision of loans, and supports China’s ambitious “One Belt, One Road” initiative to boost trade and connectivity across the Eurasian landmass.

Multilateral Development Banks and Safeguards

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Independent evaluations at multilateral development banks (MDBs) have called for a reform of the system of safeguards that they use to deflect potential damages to communities and the environment associated with the investments they finance. Without such mitigation, roads can harm habitats, dams displace communities and slum rebuilding hurt livelihoods.