The AIIB is a controversial addition to Asian economic regionalism. It is the first multilateral development bank (MDB) dedicated to infrastructure, and the first international economic institution created by China. However, critics have alleged it is a vehicle for Chinese geostrategic goals, may dilute good governance initiatives, and compete with other MDBs working in Asia. During membership negotiations in 2015, China had to strike a balance between its own goals and its partners’ desire for a transparent and commercially-oriented bank. To ensure the bank’s legitimacy, China has compromised with member states to create an institution which conforms to international best practices in development financing, and works with – rather than against – the existing MDBs to help close infrastructure gaps in Asia.