Contested Multilateralism in Development Finance and Bangladesh’s Growing Development Partnership with the AIIB

Contested Multilateralism in Development Finance and Bangladesh’s Growing Development Partnership with the AIIB

Contested Multilateralism in Development Finance and Bangladesh’s Growing Development Partnership with the AIIB

30th Aug, 2026

Contested Multilateralism in Development Finance and Bangladesh’s Growing Development Partnership with the AIIB

Mahfujur Rahman and Shadya Naher Sheyam

Abstract

This article evaluates Bangladesh’s growing development partnership with the Asian Infrastructure Investment Bank (AIIB) amid the contested multilateralism in development finance. The AIIB is a Chinese-led Multilateral Development Bank (MDB) that emerged in 2016 as an alternative to the existing Western-led MDBs like the World Bank (WB) and the Asian Development Bank (ADB). Focusing on the concept of contested multilateralism, this article demonstrates how the emergence of AIIB has inflicted competition and complementarity in global development finance, unleashing diverse opportunities. It adopts a qualitative case study approach to analyze how Bangladesh has developed a deepening development partnership with the AIIB, navigating the options of contesting multilateral development banks. Moreover, it also manifests Bangladesh’s proactive development partnership with the AIIB through a brief comparative analysis with other small South Asian countries.


Publication Type

Journal Article

Publication Year

2026

Author(s)

Mahfujur Rahman and Shadya Naher Sheyam

Journal Name

Osmani Papers

Volume, Issue

1, 1

Pagination

51-60

Article Type

Paper

DOI: 10.67844/b3cpep

Keywords: Contested Multilateralism, Development Finance, MDB, AIIB, Bangladesh.


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