France, Germany, Italy join China-led AIIB: How multilateral development banks stack up

In a major snub to the US earlier this week, France, Germany and Italy followed Britain in agreeing to join the China-led Asian Infrastructure Investment Bank ( AIIB).

Created by 21 countries, including India, in October 2014, the multilateral development bank, with an initial capital of $50 billion, is tipped to be an alternative to the US-dominated World Bank and Japancontrolled Asian Development Bank.

While the AIIB, which will finance investments in telecom, transportation, energy and other infrastructure projects, is a sure sign of China’s growing global influence, challenging the World Bank and ADB is no easy task.

ET Magazine gives you a snapshot of various multilateral development banks to see how they stack up against each other: