ADB-AIIB cooperation ‘win-win’ situation – Nakao

ADB President Takehiko Nakao

ADB President Takehiko Nakao

ADB-AIIB: Cooperation between the Asian Development Bank (ADB) and the newly-formed Asian Infrastructure Investment Bank (AIIB) will be a “kind of a win-win” for both institutions, ADB President Takehiko Nakao claimed this week.
During meetings with AIIB president-designate Jin Liqun last year, the two men reached agreement on several issues, including importance of infrastructure for economic and sustainable development, and the need for good policy for social and environmental influx of projects, he said.
“We have already started discussing what can be the first one or two projects for co-financing in such areas as transport-road, renewable energy, and urban and water projects,” Nakao elaborated. The first meeting of the AIIB is scheduled for the end of next week.
According to provisional figures released yesterday, the ADB approved an all-time high of $27.15bn in loans, grants, technical assistance, and co-financing reached an all-time high of $27.15bn last year, up 19% on 2014.

Source: xinhuanet