Asian Infrastructure Investment Bank: What does it mean for Indonesia?

Asian Infrastructure Investment Bank: What does it mean for Indonesia?

Last November, Jokowi formally announced that Indonesia would be joining the recently founded Asian Infrastructure Investment Bank, or AIIB. Like the World Bank (WB) and Asian Development Bank (ADB), the AIIB is another multilateral financial institution that will provide capital in the form of loans for various countries to finance development projects. What differentiates the AIIB from the other two aforementioned banks is that the AIIB’s focus will be narrowed down solely to Asia and solely to infrastructure projects. The other primary difference is the key stakeholders behind these banks – the World Bank is controlled by the United States, the Asian Development Bank is most heavily influenced by Japan, while the AIIB is being led by China.

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