BEIJING (AP) – The president of the Asian Development Bank says a proposed Chinese-led regional bank is a potential partner rather than a rival and the ADB is talking with Beijing to share its experience.
Takehiko Nakao’s comments came after Washington softened its opposition to the Chinese-proposed Asian Infrastructure Investment Bank and suggested it work together with existing entities such the World Bank.
The Manila-based ADB is ready to collaborate with the AIIB if it meets environmental, social and other standards for lending, Nakao said in an interview ahead of Tuesday’s release of his bank’s regional economic outlook.
U.S. officials worry the bank might become an instrument of Chinese foreign policy and undermine the World Bank or other institutions by offering credit with few conditions.
“I think we can complement each other,” Nakao said.