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China-backed AIIB touts growth, sustainability

Reuters  |  JEJU, South Korea 

By Elias GlennJEJU, South Korea (Reuters) - Leaders of the China-backed Asian Infrastructure Investment Bank touted its growing membership and commitment to sustainable development at its annual meeting, even as environmental groups were disappointed by its openness to investing in coal projects.The AIIB, which has 80 member countries, was set up to help meet the estimated $26 trillion need for infrastructure spending in Asia through 2030, while also demonstrating that a China-led institution can meet international standards for best practice.The United States and Japan, both members of the ...

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First Published: Sun, June 18 2017. 11:41 IST