AIIB의 ASEAN 인프라 개발에 대한 자금지원 평가와 BRI와의 관계

A Case Study on ASEAN Financing by the AIIB and Its Relationship with the BRI

Purpose - The purpose of the research is to evaluate how AIIB led to develop infrastructure for cooperation in developing countries in Asia. We focused on its ASEAN and analyzed the business performance so far and examined its linkage with BRI. Design/Methodology/Approach - Based on the literature research and data from the AIIB Web, this study classified 70 cases of AIIB approved projects and 38 cases of proposed projects according to sector and annual, cooperation with other MDBs and the Sovereign scale. Findings - AIIB focuses on energy, financial institution and transportation infrastructure across Asia, while ASEAN is limited to water and urban development. At the beginning of its establishment, AIIB performed most of the infrastructure development in Asia through cooperation with other MDBs, but since 2018, it has shifted to stand-alone projects, which shows a willingness to invest based on its accumulated project experience. On the other hand, in ASEAN, most infrastructure development is still being carried out with the cooperation with other MDBs. In addition, nonsovereign projects are increasing in Asia. This is because infrastructure investment increased as much as AIIB actually supported, and private development will increase accordingly. On the other hand, it can be seen that ASEAN still has a high proportion of sovereign projects. Research Implications - So far, AIIB has been evaluated as a means of focusing on BRI financing through infrastructure development projects and expanding its influence on China’s neighbors. However, in reality, it is inferred that the relationship between AIIB and BRI is not closely related. In particular, when considering AIIB’s ASEAN funding, the link with BRI is still remote.