The State Council of China announced that New Development Bank (NDB) plans to co-finance infrastructure projects with the Asian Infrastructure Investment Bank along the Belt and Road economies. “There will be unlimited opportunities to co-finance projects with the AIIB in the future along the Belt and Road, because we share so much in common while selecting projects,” Leslie Maasdorp Vice President and Chief Financial Officer of the New Development Bank said.
One year older than its peer multilateral bank Asian Infrastructure Investment Bank (AIIB), the NDB was opened in Shanghai in 2015, founded by the BRICS emerging economies, which include Brazil, Russia, India, China and South Africa.
“We are both interested in investing in projects that are sustainable, commercially viable and have long term economic benefits. Countries along the Belt and Road have huge demand for such projects, and we can work together to fill the infrastructural gap,” he said.
The AIIB sees dialogues with fund receivers as important before deciding on a specific project to benefit more people. “When we push for investment in infrastructure, we make a point of having a dialogue with the government with regard to in which way this investment will benefit its people,” Jin Liqun president of President of AIIB said.
“Our job is not just to put some money into a particular country to build roads or railways. We would like to see all the projects benefit people and to ensure people have more gains rather than losses from such investment,” he said.
AIIB is founded by 57 members and 13 new members and this year 15 members will join the AIIB.
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