26 March 2018
- RSIS
- Publication
- External Publications
- Co-operation Not Competition: The New Multilateral Development Banks and the Old
Co-operation Not Competition: The New Multilateral Development Banks and the Old
A new wave of decentralization in development financing represented by the China-led Asian Infrastructure Investment Bank and New Development Bank has been widely seen as a threat to the World Bank and Asian Development Bank. This need not be the case. The new banks’ focus on infrastructure financing in developing Asia is welcome, while the World Bank and others represent continuity and good governance, write Ramon Pacheco Pardo and Pradumna B. Rana. Signs of useful cooperation are already emerging.
A new wave of decentralization in development financing represented by the China-led Asian Infrastructure Investment Bank and New Development Bank has been widely seen as a threat to the World Bank and Asian Development Bank. This need not be the case. The new banks’ focus on infrastructure financing in developing Asia is welcome, while the World Bank and others represent continuity and good governance, write Ramon Pacheco Pardo and Pradumna B. Rana. Signs of useful cooperation are already emerging.
