Nov 12, 2014 05:17 PM

ADB's Head Says It Can Cooperate with China's New Infrastructure Bank

(Beijing) – Takehiko Nakao, president of the Asian Development Bank (ADB), visited Beijing in October for the third time since taking over the bank in April 2013. His trip came as China was signing agreements with partner countries to set up the Asian Infrastructure Investment Bank (AIIB).

The ADB, which was established in 1966 and usually has a Japanese president, offers its member countries support when building infrastructure projects, something the AIIB is intended to do. Nakao said that once the AIIB is up and running, the ADB is prepared to consider collaborating in areas of common priorities. He also suggested the AIIB adopt international best practices in procurement and environmental and social standards for its projects and programs.

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