AIIB, NDB granted UN assembly observer status

The UN General Assembly granted observer status on Thursday to two development banks, both headquartered in China, a move that experts believe will "promote their cooperation with the UN".

In separate resolutions adopted by the assembly, the Asian Infrastructure Investment Bank and the New Development Bank, respectively launched by China and the BRICS countries, became observers to the UN's most inclusive body.

"We will be able to work more closely" with the UN, said Gerard Sanders, general counsel of the AIIB.