China's decision to reject the IMF and World Bank has prompted speculation about the country's next move in the global financial landscape. Two key institutions that have emerged as alternatives to the traditional Western-dominated institutions are the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB). The AIIB, established in 2015, has gained significant momentum, with over 100 member countries and a focus on funding infrastructure projects in Asia. The NDB, also known as the BRICS Development Bank, is a joint initiative of the BRICS countries (Brazil, Russia, India, China, and South Africa) and aims to finance sustainable development and infrastructure projects in emerging economies. With China's growing influence in the global economy, its refusal to adhere to the guidelines set by the IMF and World Bank has prompted other countries to consider alternative sources of funding. The AIIB and NDB have the potential to reshape the global financial landscape, offering funding to countries for projects that may have been overlooked or underfunded by traditional institutions. As China continues to reject the IMF and World Bank, it is likely that these alternative institutions will continue to gain traction and provide new opportunities for countries seeking financial support for their development projects.

The New Development Bank was created with an objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. The Bank will complement the efforts of other financial institutions and establish a network of global, regional and local partnerships with multilateral and national development banks as well as other institutions and market players.

AIIB is a new multilateral development bank founded to bring countries together to address the daunting infrastructure needs across Asia. Headquartered in Beijing, AIIB commenced its operation in January 2016 and has now grown to 70 approved members from all over the world. Its mission is to improve economic and social development in Asia by investing in high quality, financially viable and environmentally friendly infrastructure projects.

The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China, and South Africa).[1] According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank."

The initial authorized capital of the bank is $100 billion divided into 1 million shares having a par value of $100,000 each. The initial subscribed capital of the NDB is $50 billion divided into paid-in shares ($10 billion) and callable shares ($40 billion). The initial subscribed capital of the bank was equally distributed among the founding members (Brazil, Russia, India, China, South Africa). The Agreement on the NDB specifies that every member will have one vote and that no member would have any veto powers .

The bank is headquartered in Shanghai, China. The first regional office of the NDB is in Johannesburg, South Africa. The second regional office was established in 2019 in São Paulo, Brazil, followed by GIFT City, India and Moscow, Russia.


Discover the truth behind China's bold move against the IMF and World Bank with the establishment of the AIIB and NDB. Learn about the implications of these developments in global finance.

Learn about the AIIB and NDB, China's bold move against the IMF and World Bank. Find out why these new institutions were established in 2015 and their impact on the global financial landscape.

Discover the truth behind China's bold move against the IMF and World Bank with the establishment of the AIIB and NDB. Learn how these institutions are changing the global economic landscape.


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