The Tarbela 5 hydropower extension project in Pakistan is one of the first investments made by the world’s newest multilateral bank – the Asian Infrastructure Investment Bank (AIIB). There will be much scrutiny of the AIIB’s investments in its first year: how will it differ from existing multilateral development banks? How will the AIIB handle the social and environmental impacts of its first projects? Will this new bank transform the way development is done, or just repeat the mistakes of its predecessors?
*BIC is publishing this case study of one of the AIIB’s first investments with comments and input from the World Bank and AIIB.*