World Bank welcomes China's new bank as means to fight poverty
by Reuters from Economics | The Guardian on (#6K8H)
Jim Yong Kim endorses rival development bank AIIB, saying new initiative could help end extreme poverty if it ensures high standards for projects
The World Bank plans to work together with the Chinese-led Asian Infrastructure Investment Bank to fight poverty and fund infrastructure projects, the World Bank president, Jim Yong Kim, has said.
Worried about China's growing diplomatic clout, the United States has been urging countries to think twice about joining the AIIB, arguing that its projects may not adequately safeguard the environment and people.
Continue reading...