The Asian Infrastructure Investment Bank (AIIB), which began operations in 2016 and now has an approved membership of eighty-four worldwide, has quickly become perhaps one of the world’s most promising agents of global economic development. With its firm commitments to the twenty-first century imperatives of cost-effectiveness, zero tolerance for corruption and active promotion of environmental sustainability, its clearly stated aims and requirements echo the goal of reform that other multilateral institutions are undertaking. This book is among the first to offer an incisive introduction to the AIIB’s law and governance, which are now essentially in place. From a perspective of Chinese multilateralism, which parts ways from the dominant twentieth-century Bretton Woods arrangements, the author provides in great depth the details of such elements of the Bank’s Articles of Agreement as the following: – non-resident board system; – procurement; – role of trust funds; – state-owned enterprises as private entities; – immunity; – dispute settlement; – accountability for involuntary resettlement and human rights violations; and – policy on prohibited practices. Throughout, the author provides deeply informed comparisons with such existing multilateral development banks as the World Bank, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development and the Inter-American Development Bank, as well as with the World Trade Organization. He shows how the AIIB not only emulates but also innovates while continuing to collaborate closely with these institutions. He suggests what should be done to optimize governance, standards and operations of the AIIB together with these peer institutions in a mutually emulating manner. Lawyers and policymakers involved in international economic law and related fields will welcome this nuanced and in-depth description and analysis of the AIIB. Its concomitant analysis of political economy and global governance issues will be of interest to bankers, businesses, government officials and others looking for an overall understanding of multilateral development banking and China’s approach toward global governance in particular.

This timely book provides the first systematic analysis of global public procurement regulation and policy during and beyond the COVID-19 pandemic. Through both thematic chapters and national case studies, this book: - explores the adequacy of traditional legal frameworks for emergency procurement; - examines how governments and international organisations have responded specifically to the pandemic; and - considers how the experience of the pandemic and the political impetus for reform might be leveraged to improve public procurement more broadly. Public procurement has been critical in delivering vital frontline public services both in the health sector and elsewhere, with procurement of ventilators, protective equipment and new hospitals all hitting the headlines. At the same time, procurers have faced the challenge of adjusting existing contracts to a new reality where, for example, some contracted services can no longer operate. Further, efficient and effective procurement will be an essential, and not a luxury, in the economic recovery. With case studies on Italy, the UK, the USA, India, Singapore, Africa, Latin America and China, the book brings together the world's leading academics and practitioners from across Europe, the Americas, Asia and Africa to examine these issues, providing an essential resource for policy makers, legislators, international organisations and academics.

This edited collection fills a significant gap in the literature by gathering contributions from the most prominent academics and practitioners of aid and procurement. It explores the economic, political and legal relationship between procurement and aid effectiveness in developing countries, and takes stock of current debates in the field. More specifically, the contributions analyse the failures and successes of current initiatives to foster effectiveness and streamline the aid procurement process, and address current themes emerging in the literature related to development, procurement and aid success. A pivotal and timely publication, Public Procurement and Aid Effectiveness will be of interest to a varied and multicultural international audience and a wide range of actors working on aid effectiveness, development, procurement and good governance initiatives in both donor and beneficiary countries.

Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.

This comprehensive Companion provides an extensive guide to understanding the World Trade Organization (WTO) and its impact on the global economy. Addressing the challenges facing the WTO amidst a rapidly evolving landscape, the book delves into the diverse trade policies of countries and regions, providing rare insights into their impact on the global trade governance frameworks.

This first volume of the AIIB Yearbook of International Law (AYIL), edited by Peter Quayle and Xuan Gao, is based upon the inaugural 2017 AIIB Legal Conference, both titled, Good Governance and Modern International Financial Institutions (IFIs). Following a Preface by the General Counsel of the AIIB and General Editor of AYIL, Gerard Sanders, and an Introduction by the Editors, this volume of AYIL draws upon expertise from other IFIs, international law and governance practitioners, and eminent academics. It is divided into three parts to reflect a series of dimensions to the good governance of IFIs. Firstly, the role of the membership of IFIs as expressed through their executive governance organs. Second, the legal basis of governance of IFIs. And third, the interaction around governance between IFIs and external stakeholders. This volume concludes with the text of the 2017 AIIB Law Lecture, delivered by the United Nations Under-Secretary-General for Legal Affairs and Legal Counsel, Miguel de Serpa Soares on the subject of ‘The Necessity of Cooperation between International Organizations’ and a summary report on the proceedings of the 2017 AIIB Legal Conference. The first volume of AYIL was launched at the Annual Meeting of the Board of Governors of the AIIB in Mumbai, India, June 2018.

The Asian Infrastructure Investment Bank, first opened in 2016, is a 100 billion dollar multilateral development bank purpose-built to support infrastructure projects that enhance regional economic productivity. Its arms reach far: in its first two years, AIIB has financed transport systems such as national motorways in Pakistan, railways in Oman, and rural roads in India; energy projects including natural gas pipelines in Azerbaijan and hydropower plants in Tajikistan; and the redevelopment of impoverished areas in Indonesia. Initiated by China, its membership is global, with regional powers from Korea to Saudi Arabia, and key players from Europe, Africa, and Latin America. In a text that will appeal to general readers and legal specialists alike, Natalie Lichtenstein examines the Bank's mandate, investment operations, finance, governance, and institutional set up, as well as providing detailed analyses of the similarities and differences it has with other development banks - charting AIIB's story so far and anticipating its future.