As Ecns.cn reports, the Manila-based Asian Development Bank (ADB) is looking forward to cooperating closely with the Asian Infrastructure Investment Bank (AIIB), Director General of ADB's Strategy and Policy Department Indu Bhushan said in a recent exclusive interview with Xinhua.
Bhushan said that the ADB is willing to cooperate with the AIIB, with possible co-financing in some projects. The Articles of Agreement (AOA) for AIIB has been finalized and should be ready for signing by the end of June.
The China-proposed bank is scheduled to be launched by the end of the year with planned authorized capital of 100 billion U.S. dollars.
"We hope AIIB's projects will provide maximum social and economic benefits to the countries it assists. In a recent meeting with Liqun Jin, secretary general of the Multilateral Interim Secretariat on Establishing the AIIB, both ADB and AIIB reaffirmed the importance of environmental and social safeguards for projects, " Bhushan said.
ADB provides support for infrastructure, education, finance, agriculture, and health sectors across the Asia-Pacific region.