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Introduction

685005 — 2020-09-03 05:04:33 UTC

After World War II, there were more and more multilateral development banks which were set up continuously within the globe. They focus on providing financing to help developing countries to develop...... This essay analyzes some differences between WB and the new role AIID, it is useful for the people to understand the status and actions of multilateral development banks and their contribution to solving global development problems.

Difference:

685005 — 2020-09-03 05:05:25 UTC

Although these banks have more than one hundred member countries, the AIIB is concerned with Asian development, while the World Bank is concerned with poverty all over the world.
It is different for the composition structure and history between WB and AIID.
On the contrary, WB has diverse and detailed goals, but AIID has only clear direction
In addition, it is opppsite about information disclosure for these banks. WB has complete information disclosure which provides materials for public research and supervision. Contrastingly. However, AIID haven't enough infromations to provides. Inclusive Development International (2018) points out that

Similarity

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1. However, these banks all implemented the same investment direction in the early development period. World bank had many cases which
2. Similarly, both banks have human rights violation cases in the aided areas；
3. These banks apply a weighted voting system which corresponds, so China and the U.S. have the greatest control in their banks.

Conclusion

685005 — 2020-09-03 05:09:42 UTC

It should be emphasized that they have similar goals and to solve the plight of world development, even though the two banks are so different. WB establishes complete and sustainable investment criteria and goals, so that AIIB can refer to it to avoid some mistakes. With the development of AIID, it will further increase the diversity of aid methods and multilateral development banks. Simultaneously, AIIB puts pressure on WB and other multilateral development banks, who can be motivated to better serve the development of poor areas.

Reference

685005 — 2020-09-03 05:10:47 UTC

Bretton Woods Project (2019) What are the main criticisms of the World Bank and the IMF? Available from: https://www.brettonwoodsproject.org/2019/06/what-are-the-main-criticisms-of-the-world-bank-and-the-imf/

Dahir, A.L. (2018) The growing membership of a China - led development bank challenges the IMF - World Bank orthodoxy Quartz Africa, May 9, 2018, https://qz.com/africa/1273424/k enya-join-china-led-asian infrastructurnvestment-bank-aiib/

Quayle, P., & Gao, X. (Eds.). (2019). Good Governance and Modern International Financial Institutions: AIIB Yearbook of International Law 2018 . Leiden; Boston: Brill. doi:10.1163/j.ctvrxk459, https://www.jstor.org/stable/10.1163/j.ctvrxk459

Inclusive Development International. 2018. Moving Beyond Rhetoric： How The AIIB Can Close The Loophole On Fossil Fuels. [online] Available at: [Accessed 2 September 2020].

Bretton Woods Project. 2018. IMF Quota Reforms: The Fight For Democratic Governance Continues - Bretton Woods Project. [online] Available at: [Accessed 3 September 2020].