ADB eyes more cooperation with AIIB

The Asian Development Bank (ADB) expects more cooperation with the Asian Infrastructure Investment Bank (AIIB) in future co-financed projects and other related areas to boost development in the Asia-Pacific region, a top ADB official said here.

In an interview with Xinhua news agency here, ADB Vice President Zhang Wencai said: "I'm quite confident that in the future we will explore more projects for co-financing between ADB and AIIB."

The AIIB is an international financial institution that mainly aims to support the building of infrastructure in the Asia-Pacific region and beyond. Moody's Investors Service last year gave the China-initiated institution its highest possible rating, with a stable outlook.

Zhang said that since 2016, ADB and AIIB had co-financed four projects, including the Bangladesh Natural Gas Infrastructure and Efficiency Improvement Project.

"And other three projects are a highway project in Pakistan, a road project in Georgia and a power transmission network project in India."

In sectors like transport, energy and urban and rural infrastructure, there were many opportunities for the two institutions to work together, Zhang added.

Apart from co-financing more projects, he said: "We can exchange ideas, experiences and knowledge in many fronts."

"I can say high-level discussions between the two banks have been quite pragmatic," he said. "Both of us concentrate very much on the development of Asia and the Pacific."

--IANS

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