Developing MDBs' Dispute Settlement Systems: A Perspective of Asian Infrastructure Investment Bank
![handle is hein.journals/honkon47 and id is 877 raw text is:
DEVELOPING MDBs' DISPUTE
SETTLEMENT SYSTEMS:
A PERSPECTIVE OF ASIAN
INFRASTRUCTURE INVESTMENT BANK
O1
Bin Gu*
Multilateral development banks (MDBs) all have a strong preference to avoid
conflicts and to keep matters decided internally. They are averse to strict, judicial-
type law application. Their dispute resolution mechanisms are thus essentially
administrative in nature, although in exceptional forums, the MDBs agree through
charters or contracts to get exposed to judicial process or arbitration. MDBs do not
have a uniform dispute settlement system: different MDBs have their own dispute
resolution mechanisms, and within each MDB, there are various dispute resolution
mechanisms to deal with different subject matters. Most dispute resolution forums
for MDBs are built from within, but are independent from Bank management.
These mechanisms generally perform well in handling different disputes, which is
extraordinary given the soft law nature of international financial law in a larger
context. The Asian Infrastructure Investment Bank is the first MDB initiated by
a group of Asian developing countries with China at the centre. Its committed high
standards can only be possible with fair and effective dispute resolution mechanisms.
1. Introduction
Enforcement is always a tough issue in international law. International
organisations develop various means to enforce the treaties that they
administer, and one such endeavour is to build a dispute resolution
mechanism from within. The World Trade Organisation (WTO)'s dispute
settlement system, handling disputes of actions by a member government
affecting international trade, is the most splendid of its kind.' Multilateral
Assistant Professor of Law at Beijing Foreign Studies University.
In contrast to the predecessor General Agreement on Tariffs and Trade's diplomatic norms,
the WTO's dispute settlement system has the teeth necessary to induce compliance and is
considered as the most developed dispute settlement system in any existing treaty regime. David
Palmeter, The WTO as a Legal System (2000) 24 Fordham International Law]ournal 444, 468.](ViewImageLocal?handle=hein.journals/honkon47&div=45&collection=&method=preview&ext=.png&size=3)
What Is HeinOnline?
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most
Developing MDBs' Dispute Settlement Systems: A Perspective of Asian Infrastructure Investment Bank
Contact us for annual subscription options:
Already a HeinOnline Subscriber?
profiles profiles most