Jin Liqun: 'Vast Room for Cooperation' Between AIIB and World Bank
In the video above, Asian Infrastructure Investment Bank President Jin Liqun participates in a conversation with Asia Society Policy Institute President Kevin Rudd on Wednesday, April 13, in Washington, D.C. (Jim Watson/AFP/Getty Images)
WASHINGTON, D.C. — Upon its establishment two years ago, the Asian Infrastructure Investment Bank (AIIB) raised concern that the Beijing-backed institution would work at cross-purposes with its more established counterpart, the World Bank. But in a conversation with Asia Society Policy Institute President Kevin Rudd on Wednesday, AIIB President Jin Liqun said that there was "vast room for cooperation." Accordingly, the two institutions announced that they had signed off on a framework to collaborate on infrastructure projects. From the AFP write up:
In its first year of operation, the AIIB expects to approve about $1.2 billion in financing, with a "sizable share" of that to be in joint projects with the World Bank, the two said.
Under consideration are around a dozen projects including water, transportation, and energy developments in East, Southeast and Central Asia.
In the wide-ranging conversation, Jin also discussed his affection for the Bretton Woods institutions, his rules on lending, and why he loves Shakespeare.