Mandate

Abstract

Abstract Chapter 3, Mandate, discusses the provisions in the AIIB Charter that encapsulate AIIB’s mandate. These provisions address the overarching objectives that the Prospective Founding Members saw for AIIB. The Chapter explains the Preamble to the AIIB Charter, and compares it with other Charters. Then the separate clauses that govern AIIB’s legal purpose and AIIB’s functions are described, and also compared to the similar clauses for other multilateral development banks. Key elements are regional economic development, development finance, infrastructure investment, supplementing private finance and multilateral collaboration. AIIB’s cooperation arrangements with other international organizations are summarized. This Chapter concludes by enumerating the clauses in the AIIB Charter where the purpose and functions have particular legal significance, setting a framework for AIIB to evolve into new areas and functions.

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