You are here

21 nations back new regional lender

Bank is intended to address burgeoning Asian demand for transportation, dams, ports and other facilities

AsianInfrastructureBank251014.jpg
CHINA and 20 other countries moved forward on Friday towards setting up an Asian infrastructure lender seen as a counterweight to Western-backed international development banks.

Shanghai

CHINA and 20 other countries moved forward on Friday towards setting up an Asian infrastructure lender seen as a counterweight to Western-backed international development banks.

The signatories put their names to a memorandum of understanding to establish the Asian