The Advantages of AIIB for Infrastructure & Productive Sectors
BEIJING - Asian Infrastructure Investment Bank (AIIB) as a multilateral development bank (MDB) conceived for the 21st century have advantages if compared than the other Banks. It was explained by the president of AIIB, Jin Liqun who stated that AIIB may finance not only infrastructure but also productive sectors.
AIIB President Jin Liqun said the bank can process loan application within half a year, shorter than what the World Bank and the Asian Development Bank can offer. He added besides moving faster than the WB and ADB, AIIB also offers cheaper financing terms.
“This is our difference. We may finance other productive sectors, not just infrastructure. (That includes) industrialization, manufacturing because we believe developing countries need to move up on the value chain. And if you help them, then you can help them to be able to generate income,” said Jin as reported from malaya.com (12/21/2016).
The AIIB, a modern knowledge-based institution, is more focus on the development of infrastructure and other productive sectors in Asia, including energy and power, transportation and telecommunications, rural infrastructure and agriculture development, water supply and sanitation, environmental protection, urban development and logistics.
AIIB welcomes all regional and non-regional countries, developing and developed countries, that seek to contribute to Asian infrastructure development and regional connectivity.