ADB and AIIB agree to look at project co-financing

ADB President Takehiko Nakao

ADB President Takehiko Nakao

ADB and AIIB: Asian Development Bank President Takehiko Nakao and President Designate of the Asian Infrastructure Investment Bank (AIIB) Liqun Jin have agreed in principle to look at the possibility of co-financing Asian infrastructure projects. During a meeting at the offices of the Multilateral Interim Secretariat of AIIB in Beijing, they agreed to start the process of identifying future projects that they can work on together. 
“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.
ADB was founded in 1966 and has 67 members, while the AIIB was established earlier this year with 57 founding members. 

Source: TREND