Pakistan's Dar: Projects could be co-financed

The Asian Infrastructure Investment Bank may co-finance some of its first projects with similar institutions, such as the Manila-based Asian Development Bank, according to Mohammad Ishaq Dar, the Pakistani finance minister.

Some observers in Japan and the West have painted the AIIB and ADB as rivals, yet leaders of both banks have dismissed the suggestion.

In fact, "we see it as having a complementary role", said Dar who attended the opening ceremony of the AIIB held at Beijing's Diaoyutai State Guesthouse on Saturday. "It (the new bank) may fund projects alone, or it ... could co-fund them with other agencies, particularly the ADB.