China’s first multilateral development bank will only fund financially, environmentally, and socially viable projects, its president Jin Liqun said at the World Economic Forum on Wednesday.
“Any project that would be good for Asia, whether in or outside of Asia, would be good for the bank,” said Jin, head of the Beijing-based Asian Infrastructure Investment Bank.
Officially launched last December, the China-backed AIIB, arguably the country’s biggest success in rewriting the global financial rules in the face of US objections, held its first annual meeting over the weekend bringing together 57 founding members. The majority of them are countries from Asia and Western Europe....
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