In this chapter, the geopolitical implications of AIIB and Asian Development Bank (ADB) activities in ASEAN are studied, and how development finance can be viewed as either converging or diverging with regional power in major-power competition is discussed. It analyzes how the governance structures of the two banks, their membership coalitions, and how they finance their operations contribute to perceptions of authority and credibility, and how ASEAN states use institutional diversity to risk-hedge, increase policy autonomy, and diversify their external relations. The chapter also discusses how geopolitical friction could be mitigated through co-financing, standards alignment, and safeguard practices, such as burying projects in common processes, where parallel lending and the politics of visibility could heighten contention. The chapter explains how project-level finance is embedded in the wider regional strategy, making AIIB and ADB part of pluralized geopolitical signaling in which infrastructure investment is used as an instrument of the economy and geopolitics.