Official Touts Cooperation, Not Competition Between Asia’s Infrastructure Lenders
(Danang, Vietnam) — Since China led the establishment of the Asian Infrastructure Investment Bank (AIIB) in 2015, there has been discussion about its possible competition with the Asian Development Bank (ADB), which since its founding in 1966 has been led to a significant extent by the U.S. and Japan.
Diwakar Gupta, ADB vice president, said the Asia-Pacific’s demand for infrastructure is huge, and there is no conflict between the AIIB and ADB in meeting this demand. The two banks have cooperated with each other in some projects, Gupta told Caixin in an exclusive interview on the sidelines of the Asia-Pacific Economic Cooperation summit in Da Nang, Vietnam last week.
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