The head of the Asian Infrastructure Investment Bank has called for improved global economic governance to foster shared benefits and ensure no country is left behind.
In a speech at the China Development Forum on Monday, AIIB President Jin Liqun said that globalization has suffered a setback because of the lack of shared benefits and the sharp polarization of the haves and have-nots in the world.
The AIIB chief said that multilateral development banks and financial institutions are facing the challenge of greater demand for financing with limited resources.
Jin said that the creation of the AIIB underscored the determination of the founding members to create a new type of funding, to improve regional development and connectivity and to improve the global governance in a multi-polar world.
“The AIIB is not a clone of existing financial institutions and we have special features,” Jin said, noting that the AIIB is the first of its kind to have developing countries as the majority shareholder while being inclusive of developed countries.