The World Bank And International Monetary Fund Ready To Co-Operate With AIIB
Asian Infrastructure Investment Bank, AIIB, will have no obstacles working with The International Monetary Fund, IMF, which will be “delighted” to cooperate with this China-led bank, IMF managing director Christine Lagarde stated in Beijing on Sunday.
It was said in the Beijing conference that not only IMF, but The World Bank will be cooperating with AIIB, since there is “massive” room for it on infrastructure financing. In an exclusive interview with the Xinhua News Agency, World Bank Managing Director, Sri Mulyani Indrawati reassured the AIIB by saying that The World Bank “Will definitely be open for cooperation.”
China provided most of the seed money, when this 50 billion US dollars lender, which will fund transport, energy and infrastructure projects, was created in October 2014. The deadline for joining the AIIB is March 31, and over 30 countries are already members. Jin Liqun, Secretary General of the bank’s secretariat said, on Sunday, that 8 more countries may join the AIIB by the deadline. When the bank starts the operations, it will have the shareholders’ approval to double its capitalization.
Numerous countries already declared intentions to participate in Asian Infrastructure Investment Bank, whose operations will commence by the end of 2015, while others expressed concern about the potential competition. United States of America and Japan, Chinas greatest rivals in world economy have shown no support for this project, unlike Germany, United Kingdom, India, Pakistan and many others. BBC reported that the UKs decision to found the new bank raised some concern with their US allies.