World Bank joins AIIB on financing for joint projects

Global Business

World Bank joins AIIB on financing for joint projects1

When the idea of the Asian Infrastructure Investment Bank was first bandied about, the U.S. and its allies spoke against it.

Washington, D.C. claimed it would compete with the World Bank and impede global development.

Now, the World Bank and the AIIB are working together to jointly finance a series of infrastructure projects.

Its chief, Jin Liqun, went as far to say the bank isn’t just concentrating on China-heavy projects. The AIIB hopes to approve about 1.2 billion dollars in financing in 2016.

World Bank joins AIIB on financing for joint projects

World Bank joins AIIB on financing for joint projects

When the idea of the Asian Infrastructure Investment Bank was first bandied about, the U.S. and its allies spoke against it. Washington, D.C. claimed it would compete with the World Bank and impede global development. Now, the World Bank and the AIIB are working together to jointly finance a series of infrastructure projects. Its chief, Jin Liqun, went as far to say the bank isn't just concentrating on China-heavy projects. The AIIB hopes to approve about 1.2 billion dollars in financing in 2016.

Could Taiwan join AIIB?

Could Taiwan join AIIB?

"Membership is open to the members of World Bank and ADB. It's very clear about the possibility (that Taiwan could join the AIIB)," said Jin Liqun, president of the Asian Infrastructure Investment Bank. He was taking questions during a conversation hosted by the Asia Society on Wednesday.

  • The World Bank has a hidden agenda, so the AIIB should be very careful about this.