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Leading development banks wary of new EM entrants

They issue joint statement touting their experience in the business of lending for infrastructure projects

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In An extraordinary show of solidarity and defensiveness, the world's leading multilateral development banks and the International Monetary Fund (IMF) have warned of a possible dilution in the "quality of spending", with the entry of two new development banks - the China-led Asian Infrastructure Investment Bank (AIIB) and the New Development Bank - into the field.

Tokyo

IN AN extraordinary show of solidarity and defensiveness, the world's leading multilateral development banks and the International Monetary Fund (IMF) have warned of a possible dilution in the "quality of spending", with the entry of two new development banks - the China-led Asian

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