Imperial International Investment Bank

Imperial International Investment Bank

Formation	October 7, 2024 (2024-10-07)
Founded at	Huitzitaca, Xiomera
Type	International investment bank
Headquarters	Huitzitaca, Xiomera
Director	Ahuilizmara

The Imperial International Investment Bank (I³B) is an initiative of the Xiomeran government. It is a development bank, coupled with an international development strategy, that seeks to provide an alternative to other programs such as the GDIB.

History

When Empress Calhualyana took power in Xiomera, along with the rise of the XCP regime, the Xiomeran government began taking increasingly nationalistic, undemocratic and expansionist positions both domestically and internationally. This led to increasing conflict with liberal democratic nations. Such conflict was one of the contributing factors that led Xiomera to withdraw from IMTO. In addition, the creation of GDIB was increasingly seen by many in Xiomera as an effort to block Xiomera's own international ambitions. Xiomeran officials, led by the Empress, began to seek ways to bypass the existing international power structures. One of the explicit goals of the XCP's foreign policy program was to create an alternative power bloc of nations that were not liberal democracies.

Creation

In 2023, Xiomeran officials held a series of meetings in Tlālacuetztla and Huitzitaca informally known as the "International Economic Working Group". Both government officials and Xiomeran corporate leaders participated. One of the goals discussed in these private meetings was to find a way to expand Xiomera's economic cooperation with friendly nations. A major point of the talks was discussion of ongoing GDIB investment in Huenya, which was seen as a direct effort to oppose Xiomera. The talks eventually led to an agreement among public and private stakeholders to begin the groundwork for an international investment bank led by Xiomera.

In 2024, the finalization of the formation of I³B was completed. The bank officially opened on October 7th, 2024.

While the exact amount of funding for I³B is kept secret by the Xiomeran government, it is believed to be somewhere between 8 and 10 billion quetzals as an initial tranche of funding.

Objectives

The stated purpose of I³B is to "promote and accelerate economic and infrastructure development around the world through smart investment, information and technology exchange, and mutual cooperation." An unstated purpose of I³B is to align likeminded nations around Xiomera in an attempt to form an alternative economic and political bloc.

Governance

I³B is led by a Director appointed by the Xiomeran Imperial Treasury and subject to the approval of Empress Calhualyana and the Imperial Parliament. Potential I³B projects and funding are reviewed by a Board of Administration led by the Director and staffed by fifteen Administrators with expertise in the financial, construction, education, technology, manufacturing, infrastructure and transportation sectors.

Programs

I³B offers both grants and loans to participating countries. I³B also offers direct assistance with completing projects in participating countries in exchange for concessions on trade and economic cooperation. I³B, in cooperation with the Xiomeran Ministry of Defense, also offers assistance with completing projects for participating countries such as airfields or ports in exchange for "dual use" agreements. I³B also maintains a development fund that directly invests in local businesses and corporations, as well as offering them a set of loan and grant packages separate from those offered to governments.

Controversies

Opponents of I³B (and Xiomera in general) argue that I³B is simply another way for Xiomera to attempt to gain influence in countries around the world. They also argue that I³B seeks to trap participating countries and private enterprises in debt-trap diplomacy to make it easier for Xiomera to have leverage over them. Xiomeran officials have called these accusations "anti-Xiomeran propaganda" and argue that I³B allows nations to complete projects they otherwise might not be able to afford or develop on their own.

Critics also accuse I³B of helping to prop up repressive or undemocratic regimes through their programs. A notable part of the I³B charter is its complete absence of any rules or guidelines concerning the environment, workers' rights (or any rights period), and whether or not a nation follows a democratic system of governance. Critics have labeled I³B "The Tyrants' Bank" due to its lack of concern about a nation's political status.