Business / Economy

AIIB to promote shared interest by promoting global connectivity: Jin Liqun

By Li Xiang ( Updated: 2016-06-28 11:01

The Asian Infrastructure Investment Bank (AIIB) will step up the effort to promote shared interest by improving regional and global connectivity and the livelihood of the people, Jin Liqun, the bank's president, said on Tuesday.

The bank has about 30 countries and regions waiting to join as members and it will see its membership grow to nearly 90 by the end of this year, Jin said at the World Economic Forum in Tianjin.

Jin said that projects must meet three basic requirements - financial sustainability, environmentally friendly, and social acceptability - in order to be qualified for the AIIB funding.

"Any projects good for Asia, whether they are in or outside of Asia, could be considered by the AIIB," Jin said, noting that the ultimate goal of the AIIB is to promote peace and prosperity.

The bank announced four financing projects worth $509 million for electrical power, transportation and urban development in Bangladesh, Indonesia, Pakistan and Tajikistan at its first board meeting held last week.

Jin said the AIIB will also support countries that are not involved in the Belt and Road Initiative as the bank aims to promote broad-based interests.

"If a project is not embraced by the people and the countries, you cannot do it," Jin said. "We should have shared visions for shared benefits."

Hot Topics

Editor's Picks