Asian infrastructure investment bank

CNC
Added On March 25, 2015

China says it upholds an open and inclusive attitude in the building and operation of the Asian Infrastructure Investment Bank (AIIB).
 
The statement came after reports say the U.S. is proposing a formal partnership between the AIIB and Western development institutions.
 
The Wall Street Journal reported on Sunday that U.S. President Barack Obama's administration is proposing a formal partnership between the AIIB and Western development institutions like the World Bank.
 
The Journal quoted U.S. Treasury Undersecretary for International Affairs Nathan Sheets as saying: "The U.S. would welcome new multilateral institutions that strengthen the international financial architecture."
 
He told the Journal that co-financing projects with existing institutions,like the World Bank or the Asian Development Bank, would help ensure the new development bank complements rather than competes with existing institutions.
 
China's Foreign Ministry spokesperson Hong Lei said on Monday that the U.S. shift in tone shows the AIIB's mission of funding infrastructure projects in Asian countries has gained wide recognition.
 
He noted that the AIIB will draw upon good practices of existing multilateral development banks, and set up high-standard and feasible safeguard policies.
 
Hong reiterated that China upholds an open and inclusive attitude in the building and operation of the AIIB.
 
Meanwhile, multilateral lenders have also voiced their support to the establishment of the AIIB.