News Snapshot:
The Beijing-based Asian Infrastructure Investment Bank (AIIB) opened for business in 2016 and rapidly established itself as a major multilateral development institution. It aims to become the world’s leading financier of large-scale infrastructure by next year, but the bank first needs to raise its game regarding timely public disclosure of its projects’ environmental and social risks. The AIIB has 82 member states, with a further 21 countries expected to join soon. Europe’s largest economies — France, Germany, Italy and the UK — openly defied former US president Barack Obama’s administration by becoming founding members of the bank. Their decision handed...
