AIIB clarifies label, to give loans sensibly

HONG KONG - The Asian Infrastructure Investment Bank or AIIB is not "China's bank", but a multilateral development institution operating by international standards, its president, Jin Liqun, said at a financial forum in Hong Kong last week.

"The AIIB is a bank initiated by China, but it's not 'China's bank'," Jin said, adding it was created through negotiations of all the 57 founding member-countries and now has 84 members.

It is a multilateral development bank "operating by international standards and with 21-century governance", he said.