The Asian Infrastructure Investment Bank (AIIB) began operations in 2015 with an aim to fill infrastructure gaps in the Asia-Pacific.
In an exclusive interview with CGTN, AIIB President Jin Liqun noted: "We should understand that what we do is not just build a road, build a port, build a railway, we are helping development in those low-income countries in many dimensions."
"Infrastructure projects by their very nature are large... It may not be possible for one institution to do a huge project, so we step in, we can work together," he noted.
The China-led "New Silk Road" strategy aims to spur development on a myriad of levels. But it's no simple task, Beijing has estimated the initiative needs an investment of 890 billion dollars.
"We have the basic requirements which must be met before we can consider financing any projects which happen to fall into the One Belt One Road program: first financially sustainable, secondly: environmental friendly, thirdly: socially acceptable," Jin said.
He added the AIIB is transparent and inclusive. Those who choose to join are welcome. "However if any country chooses to not join, it's no problem... We can all work together, we are very open, particularly developing countries because they are looking forward too," he said.
Two of the bank's primary features are universal recruitment and universal procurement, allowing the bank to hire staff and services from individuals and companies anywhere in the world. This was evidence. The AIIB is intent on upholding the highest standards, Jin said.
