AIIB to adopt local currency loans in Asia

Financing measure to lessen risks caused by exchange-rate fluctuations

The China-based Asian Infrastructure Investment Bank plans to launch local currency financing in some Asian countries later this year in a move to reduce cross-border investment risks caused by exchange-rate fluctuations.

The first group of countries to have this new service could include India, Indonesia and Pakistan, AIIB President Jin Liqun said at a news conference in Beijing on Tuesday.