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Members' high expectations on AIIB


01-16-2016 14:40 BJT

The AIIB will not only boost the infrastructure construction of the region, but also bring opportunities for countries outside of the region. CCTV has interviewed officials and experts from various member countries. They shared their high expectations on the bank. 

Infrastructure construction, this is what the Philippines emphasized.

According to the Global Competitiveness Report 2014-2015 issued by the World Economic Forum, the Philippines ranks 95th in overall quality of infrastructure construction.  And the Philippine central bank believes the AIIB can help solve this urgent need with investment.

India is the second largest developing country in Asia. It boasts of a large population and enjoys broad space for economic development. But an Indian analyst says the country lacks infrastructure facilities and has large investment needs in fields like roads, bridges, hospitals and schools. 

In Russia, experts say the AIIB will bring opportunities that could make its economy recover. The AIIB, together with the One Belt, One road initiative is expected to boost trade and business exchanges in Eurasia and China. And Russia, as an important country in the Eurasian region, definitely will benefit. 

For countries within the Asian and Oceania regions, they need the capital and also expertise. And for countries outside the region, they have advantages in the two aspects. Take the United Kingdom for example, the AIIB is a good opportunity to export the country's rich expertise and seize a bigger market. 

"First of all, the recognition of the need of what the bank will be doing in terms of financing infrastructure investment throughout Asia. But secondly it was a recognition that Britain has a lot to offer. Britain has a great deal of expertise in respect of infrastructure building, infrastructure financing, green financing, project management, construction," said Mark Boleat, Chairman of Policy & Resources Committee, City of London Cooperation.

"We’ve used these skills all over the world. So there is a big market for British expertise. So it’s a combination of the demand for what the bank is going to do and the ability to add value what the other participants will be doing through the expertise that we have in Britain." 

Boleat also said they are looking forward to a great change in Asian infrastructure brought by the AIIB. 

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