While the western governments are busy dealing with the chaos created by Brexit, AIIB has already started to attract members from Latin America and Africa and extended its lending activities beyond Asia.

The research team at ANBOUND Consulting is of the view that the move by AIIB to bring African and Latin American countries on board is in line with the AIIB's development interest.

However, it is worth noting that there are many debt-ridden countries in Latin America whose economies remain sluggish, therefore, when investing in these countries, AIIB should be particularly cautious to avoid fallen into one of the quagmires.