But the AIIB should be considered as a step forward as long as stakeholders agree on a set of clear and accountable principles for fund
disbursement. In the past, western countries have been prompt to criticize the bilateral approach of China with regard to development
aid.
This was often perceived, rightly or wrongly, as a way to promote exports or exert stronger political influence on recipient countries, at
the expense of transparency and with little or no attention paid to the political and social environment. The AIIB is likely to channel a
greater fraction of Chinese development aid into Asia, fostering greater transparency in the fund allocation process.