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Article

3 Mar 2020

Author:
Chinese Dialogue

Ecuador: Expectation for Conflict Management and Environmental Standards from the Asian Infrastructure Investment Bank

[Excerpt translation from Spanish to English provided by Business & Human Rights Resource Centre]

"Can the first Latin partner of the IIAB learn from past mistakes?" - 24 February 2020

...Last November, Ecuador became the first Latin American country to become a member of the Asian Infrastructure Investment Bank (AIIB), promoted by the Chinese government and inaugurated in 2014 to finance development projects around the world...Whether Ecuador can take advantage of this new multilateral bank will depend, according to several economists and project finance experts, The Asian Infrastructure Investment Bank is a pioneer in the field of infrastructure investment, in that it can align these resources with good practices on issues ranging from the management of social conflict and environmental standards to public transparency in project information... Unlike other Chinese institutions whose work is rather secretive, the Asian Infrastructure Investment Bank prides itself on operating under a policy of open government. "Good governance is our hallmark and we strive to operate with the highest possible standards of transparency and accountability," reads its website, which has published risk management frameworks and environmental and social frameworks. It also has a virtual window to receive complaints from people who believe they are affected by a project financed by this entity or who are aware of any irregularity.

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