The Asian Development Bank is to work with the Asian Infrastructure Investment Bank on a loan project as the pair seek to counter perceptions they are rivals, according to the ADB’s chief.
The China-led AIIB is also consulting the ADB, which is dominated by Japan and the US, on procedures to ensure loan projects include labour, environmental and anti-corruption safeguards, said Takehiko Nakao, ADB president, yesterday in an interview.
“People want to depict ADB and AIIB as rivals and [AIIB president] Mr Jin [Liqun] and I as rivals. But actually we are friends, and ADB and AIIB can be partners,” said Mr Nakao.
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