«We need to spend 90 trillion dollars on infrastructure»

One year ago, the Asian Infrastructure Investment Bank (AIIB) launched, with the goal of addressing the massive shortfall in infrastructure investment in the world, and particularly Asia. (A recent McKinsey study suggests that the world should spend 90 trillion dollars on infrastructure until 2030.) The bank was created under Chinese leadership, and today has 57 member states - including many non-Asian ones like Switzerland. Many observers see the AIIB as an example of how China wants to assume a global leadership role, and shape the world order. The British newspaper “The Economist” called it an “alternative to the World Bank”.

What did the bank achieve so far, and what are its goals in the future? Is it simply a tool for Chinese foreign policy, or a welcome addition to the existing international institutions? At Asia Society Switzerland’s recent Anniversary Celebration, AIIB’s Vice President for Strategy and Policy, discussed these questions with Eunice Zehnder-Lai, member of the Asia Society Switzerland board.