In pioneering a more pragmatic approach to development finance, China’s institutional model could be the $40 billion Silk Road Fund that President Xi Jinping announced last November. The SRF and the AIIB will serve as the key financial instruments of China’s “One Belt, One Road” strategy, centered on the creation of two modern-day Silk Roads – the (overland) “Silk Road Economic Belt” and the “Twenty-First Century Maritime Silk Road” – stretching across Asia toward Europe.