World / Europe

AIIB ready to invest in Russian, ASEAN's projects: president

(Xinhua) Updated: 2016-05-20 00:33

SOCHI -- The Asian Infrastructure Investment Bank (AIIB) stands ready to invest in infrastructure and transport projects of Russia and Southeastern Asian countries, AIIB President Jin Liqun said Thursday.

At the Russia-ASEAN Business Forum kicked off earlier Thursday in Russia's Black Sea resort, Jin highlighted the need to improve the connectivity among Eurasian countries in order to further tap the economic potential of the region.

"AIIB wants to promote the investment in infrastructure and mass transport lines in the vast Eurasian land," he said, adding the bank will "mobilize the support of all members states and the international and regional institutions, such as the World Bank and the Eurasian Development Bank."

On Wednesday when meeting with Jin in Sochi, Russian President Vladimir Putin hailed the AIIB as a complement to the current international financial structure, and called for a more positive engagement of it in the global financial institution.

The AIIB, formally established in Beijing in December last year and started operation in January, is a multilateral financial institution with the aim of promoting investment in infrastructure projects in the Asia Pacific region.

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