The Asian Infrastructure Investment Bank [AIIB] is the world’s newest multilateral development bank [MDB] and already one of Asia’s largest international organizations by membership. This paper will compare the institutional structure of the AIIB with that of the Asian Development Bank [ADB] to identify areas in which the AIIB has innovated as a matter of international institutional law. In reviewing the constituent documents, bylaws, and operational policies of the two banks, the paper will juxtapose the AIIB and ADB’s approaches to membership, project finance, voting, and governance. It will identify not only innovations, but also the likely implications, positive and negative, thereof. Finally, it will assess the degree to which these innovations may impact the AIIB’s ability to partner with existing MDBs. In particular, the AIIB’s approach to project finance and governance mark a significant break from the status quo, while in other areas it has remained conservative.

中文翻译：

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亚洲基础设施投资银行的制度创新

亚洲基础设施投资银行 [AIIB] 是世界上最新的多边开发银行 [MDB]，并且已经成为亚洲最大的国际组织之一。本文将比较亚投行的制度结构与亚洲开发银行 [ADB] 的制度结构，以确定亚投行在国际制度法方面的创新领域。在审查两家银行的组成文件、章程和运营政策时，该文件将并列亚投行和亚行在成员资格、项目融资、投票和治理方面的方法。它将不仅识别创新，而且识别其可能的积极和消极影响。最后，它将评估这些创新对亚投行与现有多边开发银行合作能力的影响程度。特别是，