As representatives of the 57 founding countries gather later this month to prepare for the establishment of the Asian Infrastructure Investment Bank (AIIB), a former World Bank official suggested that the new institution could draw three important lessons from the operational experiences of multilateral development banks over the last five decades to become more successful.
World Bank welcomes the new development banks, such as China-proposed Asian Infrastructure Investment Bank (AIIB) and the New Development Bank established by the BRICS countries, and is ready to share experience with them, World Bank President Jim Yong Kim said on Tuesday.
Despite outside worries that a China-led development bank will challenge the established order of multilateral lenders, the IMF, World Bank and other leading global lenders have welcomed collaboration with the new bank to fill Asia's infrastructure gap.
The World Bank welcomes the Asian Infrastructure Investment Bank (AIIB) and will closely cooperate with the China-proposed institution, World Bank Managing Director Sri Mulyani Indrawati said Sunday.
As the application deadline draws near, more European countries confirmed intentions to join the Asian Infrastructure Investment Bank (AIIB) and showed great interests in the China-proposed initiative.
Companies in the Shanghai Free Trade Zone may now borrow overseas without prior consent from authorities, the Shanghai headquarters of the People's Bank of China said on Thursday.
The European Investment Bank (EIB) and the Eastern and Southern African Trade and Development Bank, or the PTA Bank on Tuesday launched a 160 million-euro lending program to support investment across eastern and southern Africa.
The 13th Osaka Business Networking Club Networking Event was held in the city of Osaka Thursday, with Chinese banks participating and promoting RMB business to dozens of Japanese enterprises.
South Korea's central bank said Monday that it has picked 12 local and foreign banks as market makers for the direct trading between currencies of South Korea and China to boost transactions in the Won-Yuan market, which is scheduled to be launched here in December.
Timely data and better measurement are vital to achieve the World Bank's twin goals of ending poverty by 2030 and promoting shared prosperity, said a report released by the World Bank on Thursday.
New Afghan President Ashraf Ghani Ahmadzai issued a decree directing the Supreme Court to reopen a case involving the scandal at the first Afghan private bank, Kabul Bank and resolve it within 45 days by recovering bank loans and stolen assets, as his first step in fighting corruption since assuming office on Sept. 29.
The World Bank on Thursday launched an initiative to bridge the private sector with the need of developing countries and emerging markets on infrastructure construction.
Myanmar has made a new move in its financial reform efforts, granting preliminarily on Wednesday a total of nine foreign banks permission to open branches for financial service operations in Myanmar for the first time in more than five decades.
China's four major commercial banks have expressed veiled support for a mortgage policy change by the central bank rumored to be launched in the near future.
The World Bank announced on Tuesday that its executive directors had endorsed a new strategy to aid Argentina to reduce poverty and promote inclusive growth.
Bank of Albania (BoA) on Sunday proposed to the parliament the dismissal of Bank of Albania governor Ardian Fullani who has been arrested over a big amount of bank theft.
Chinese banks are under increasing pressure to reform under conventional business structures amid lackluster first-half profit data.
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