Asian lending bank -- no competition with China's AIIB

Yokohama, Japan • The massive needs for spending on infrastructure and support for poverty alleviation mean the Asian Development Bank can work with, not compete against China’s new infrastructure lender, ADB President Takehiko Nakao said Thursday. Speaking as the ADB began its annual meeting Thursday in Yokohama, Japan, Nakao told reporters he hopes for more cooperation with the Beijing-backed Asia Infrastructure Investment Bank. “We can complement each other,” Nakao said. “The financing needs ...

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