AIIB to co-finance projects with World Bank and ADB

As a sign of its multilateral approach, the China-led Asian Infrastructure Investment Bank has said it will co-finance projects with the World Bank and the Asian Development Bank.

The three banks will approve the first group of co-financed projects in June, AIIB President Jin Liqun said in Washington on Wednesday.

The rationale is that the three can share the risk involved in infrastructure development, he said.