Multilateral development banks play key role in ‘very fractured world’: Asian Infrastructure Investment Bank CFO

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The Asian Infrastructure Investment Bank (AIIB) was established by Chinese President Xi Jinping in 2016 as a Chinese alternative to the World Bank and other Western-led multilateral lending institutions, and currently has 106 members worldwide.

As such, dealing with bilateral tensions between members, includingHowever, there is fundamentally a shared purpose and desire among the sovereign shareholders to make clear infrastructure investments and significantly impact people's lives, said Mr Cross.

“I think all of our thoughts are with the Moroccan people as they walk through and figure out the consequences and clearing the devastation,” he said.Mr Cross noted that when it comes to infrastructure, the due diligence and environmental social framework benchmarks applied to investments are “absolutely crucial” as some of the infrastructure has been around for decades.“Infrastructure is now more expensive.

He acknowledged any confusion that may arise, as the AIIB does a lot of investing in the region in terms of infrastructure, but “that’s the whole point of the institution”. “It's quite reasonable to expect that our employees have their own political beliefs and may well belong to their political parties of their choice,” he said., a legally binding international treaty on climate change adopted by 196 parties at the United Nations Climate Change Conference in Paris back in 2015.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines