China Infrastructure Bank - World Bank Rival or Partner?

April 10, 2015 04:52 PM
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Iran has just joined 34 other countries to become the newest member of the Asian Infrastructure Investment Bank. The new development bank, launched late last year by the People’s Republic of China, aims to provide multilateral financing for infrastructure projects in Asia. With its membership growing, the bank is seen by some as a rival to the western-led World Bank and a means for Beijing to flex its economic muscle. But, as Mil Arcega reports, Washington may be partly to blame for that.