Caixin
Nov 15, 2017 03:23 PM
ECONOMY

Official Touts Cooperation, Not Competition Between Asia’s Infrastructure Lenders

Asian Development Bank Vice President Diwaker Gupta told Caixin that
Asian Development Bank Vice President Diwaker Gupta told Caixin that "the demand for infrastructure in emerging Asia and the Pacific is so huge, that we do not see any conflict of interest with other multilateral development banks including the AIIB, in growing our business." Photo: IC

(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 the 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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