MDBs' Accountability Mechanism: A Perspective of AIIB
Journal of World Trade, Vol. 51(3), Forthcoming
17 Pages Posted: 5 May 2017
Date Written: January 10, 2017
Within the sphere of multilateral development banks’ (MDB) dispute settlement, the accountability system is one stellar important development. It is essentially MDBs’ legal efforts to address complaints made by people adversely affected by an MDB-funded project. Such complaints arise from concerns with environmental and social implications, including involuntary resettlement and human rights violations. Under this system, Bank investigators assess Bank staff’s compliance (or noncompliance) with Bank operational policies and procedures relating to project design, appraisal and/or implementation. The World Bank’s Inspection Panel is a leading example for establishing a credible accountability culture and mechanism. The Asian Infrastructure Investment Bank (AIIB) is the first MDB initiated by a group of Asian developing countries with China at the center. The AIIB’s committed high standards can only be possible with a fair and effective accountability mechanism.
Keywords: AIIB, Multilateral Development Banks, Accountability Mechanism, Inspection Panel, Compliance
JEL Classification: K33, Q01, F63
Suggested Citation: Suggested Citation