AIIB is multilateral development bank operating by int'l standards: AIIB president

Updated 2018-01-17 13:20:00 Xinhua

The Asian Infrastructure Investment Bank (AIIB) is not a "China's bank," but a multilateral development institution operating by international standards, AIIB President Jin Liqun said at a financial forum in Hong Kong.

"AIIB is a bank initiated by China, but it's not a 'China's bank'," Jin said, adding that AIIB, which was created through negotiations of all the 57 founding member countries and now has 84 members, is a multilateral development bank "operating by international standards and with 21-century governance."

"We will work with all the countries regardless of their membership ... We recruit professionals from across the world ... (and) we have international competitive bidding (that) any company can participate," Jin said in a dialogue on the impact of China's policies on global economic development during the two-day Asian Financial Forum that concluded on Tuesday.

According to Jin, China's idea to propose this new bank is "to supplement the efforts of existing institutions like the World Bank and ADB."

On the relationship between AIIB and other Chinese-proposed initiatives such as the Belt and Road Initiative, Jin said that since lots of projects related to the initiative are for AIIB member countries, the bank is "duty-bound" to support these projects.

However, he stressed that AIIB will consider financing the projects only if they are financially sustainable, environmentally friendly and acceptable to local people.

"We are not going to do loss-making business ... We are not going to do an infrastructure project leaving a big footprint in the environment ... (and) we should bring benefit to the local people, not to create problems," Jin said.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58February 22 2018 23:09:33

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16February 22 2018 23:09:33

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18February 22 2018 23:09:33

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords