AIIB mulling faster loan approval process: officials

Mumbai

THE new China-led Asian infrastructure bank is considering giving senior staff more power over loan approval than at existing multilateral lenders to speed up the decision process, officials familiar with the talks said.

Under proposals to be discussed this week in Singapore, the board of directors, which represents member countries, wouldn't sit at the lender's headquarters. The threshold and conditions to delegate loan decisions to management haven't yet been agreed, according to the officials from founder-member countries, who asked not to be named as the talks aren't public.