| Summary/Abstract |
China-led Asian Infrastructure Investment Bank (AIIB) was launched in 2016. Prior to that, the leadership and authority of the Multilateral Development Banks (MDB) were mainly controlled by the United States (US), Western Europe and Japan. Now the world has been experiencing the emergence of a new player in this domain, China. The China-led AIIB has sparked a major debate over China’s motivations behind establishing the Bank and the geostrategic implications of the Bank for both regional and extra-regional actors. Therefore, the paper endeavours to understand why China has created the AIIB. It also explores the geostrategic implications of the Bank for the region and beyond. Finally, the paper addresses certain challenges which the Bank needs to address to be a fullfledged MDB.
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