The BRICS governments have promoted the NDB as an alternative to the World Bank by providing funding for infrastructure and development projects in BRICS countries, and the CRA as an alternative to the International Monetary Fund. Also, the Beijing-based Asian Infrastructure Investment Bank (AIIB) was conceived as a China-led alternative to the World Bank and other western-led “development banks." Do these new financial institutions genuinely offer an alternative to the IMF and World Bank? The session will analyze the role of the new international lenders and their role in contemporary capitalism.