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China-backed AIIB to maintain prudent approach to financing - president

Reuters  |  DUBAI 

By Jacob and Alexander Cornwell

(Reuters) - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) will maintain a prudent approach as it finances more projects, its said on Monday.

The aims to finance projects worth about $4 billion this year, about 20 percent more than the $3.3 billion it financed in 2018.

"We expect to do more this year and beyond but I am not into rushing. I want to move forward on the basis of prudence and the basis of a meticulous feasibility study." told in an interview in

"Quantity is important ... but quality is the most important thing," he said.

The AIIB, which has 93 member countries, was set up to help meet Asia's infrastructure needs, while also demonstrating that a China-led institution can meet international standards for best practice.

It has financed $7.5 billion in projects since it launched in 2016, mostly in but also in countries such as

The will focus on financing projects in this year, Jin said, adding that the wanted to "prioritise efforts" in Pakistan, where it has already financed several projects.

He also said the was interested in working with the (GCC) countries -- Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and -- and Jordan, where it has already financed projects.

Jin, who is attending the World Government Summit in this week, said he met with UAE Sheikh earlier on Monday.

"I reaffirmed my commitment to working with the UAE, with Saudi, with Oman, with Jordan," he said of his meeting with Sheikh Mansour.

(Writing by Alexander Cornwell; Editing by Catherine Evans)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 00:16 IST
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