Insights from “The Roles and Responsibilities of IFIs beyond COVID-19—AIIB’s Innovative Features in Governance and International Standards”
On March 16, 2021, a Joint Seminar on “The Roles and Responsibilities of IFIs beyond COVID-19 – AIIB’s Innovative Features in Governance and International Standards” was held online, co-hosted by GraSPP and Graduate Program on Human Security (HSP) of the University of Tokyo. The Seminar featured a keynote address by Mr. Gerard Sanders, Senior Advisor to the President and General Counsel Emeritus at the Asian Infrastructure Investment Bank (AIIB). Serving as a capstone to an intensive course on Multilateral Financial Institutions also created and taught by Mr. Sanders at the University of Tokyo, the Seminar provided an opportunity to share perspectives and insights beyond the classroom and exchange views with government officials, policy makers, academics and other global leaders.
Following Mr. Sanders’ keynote, a panel discussion featured remarks by Mr. Arthur M. Mitchell, Senior Advisor at White & Case and former General Counsel at the Asian Development Bank (ADB), Professor Toshiro Nishizawa of GraSPP, and Professor Yasunobu Sato of HSP. The panel discussion was moderated by Professor Sato. Opening and closing remarks were provided by Lauren Suzanne Power, a Research Fellow at the University of Tokyo.
The Seminar focused on the development and innovative features of the AIIB, with particular attention to the proven benefits and future promise of the institution, both in Asia and around the globe. International Financial Institutions like the AIIB can be key instruments in overcoming the unprecedented obstacles of our times and achieving our potential to heal stronger than before. While every IFI can contribute to the shared aim of development, each according to its unique charter and governance structure, they can also work in partnership, at times co-financing and complimenting the efforts of one another. While the AIIB has already created significant impact in development on its own, it has also collaborated with other IFIs, including the ADB, to provide critical support during the Covid-19 pandemic.
The need for development investment and assistance in the world today demands the combined expertise and efforts of a multitude of players, and the AIIB is a worthy partner on the path to achieving the 2030 Agenda.
(Written by Lauren S. Power)
“The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 103 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Working with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.”