ADB sees scope for cooperation with new lender

The Asian Development Bank will consider cooperating with the new Asian Infrastructure Investment Bank while also sharpening its own competitive edge, Takehiko Nakao, president of the ADB, said on Thursday.

The establishment of the AIIB is "understandable", because financing needs for infrastructure in the region are very big, Nakao told reporters in Beijing. "If it's established, we're prepared to consider cooperation with the new bank."

With initial capital of $50 billion, the AIIB, proposed by China, will be officially launched on Friday, the Financial Times reported.