Asian infrastructure banks meet to discuss joint investment proposals

21 Sep 15

The presidents of the Asian Development Bank and the Asian Infrastructure Investment Bank have met to identify projects where it may be possible for the institutions to agree co-financing.

ADB president Takehiko Nakao and AIIB president-designate Liqun Jin met in China to discuss cooperation between the two bodies.

They previously met in May in preparation of AIIB’s operational policies including procurement and environment and social safeguards. Both also acknowledged the large infrastructure gap in the region and its critical role in supporting development and poverty reduction.

Today, Nakao and Jin renewed their commitment to working together, and agreed to start the process to identify ADB’s future projects that AIIB may be able to co-finance.

“ADB will be happy to share with AIIB our long experience and expertise in the region, including support for regional cooperation and integration, sustainable and inclusive development, and climate change adaptation and mitigation,” Nakao said.

Jin added that AIIB is keen to work together with ADB and other development partners to deliver timely and efficient financing to meet critical infrastructure demand in Asia.

The AIIB, which was launched in June with the backing of 50 countries, will use a variety of investments including loans, equity and guarantees to boost investment across a range of sectors such as transportations, energy, telecommunication, agriculture and urban development.

 

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Cooking Recipes International and Cooking Recipes. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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