AIIB to provide more recourses for development banks

The most crucial challenges that the world is facing now are deeply intertwined ones, and multilateral development banks shall work to better leverage the resource they've obtained to drive sustainable global economic growth, said Jin Liqun, president of the Asian Infrastructure Investment Bank.

Jin made the remarks on Saturday morning when speaking at a panel discussion titled "New Global Landscape and Prospects" of the 19th International Finance Forum Annual Meeting via video. The annual forum runs from Friday to Sunday.

He said that for quite some time, MDBs such as the AIIB have been working hard and continue to succeed in obtaining resources of all kinds. Yet for AIIB, more efforts shall be made to innovate the ways of leveraging resources beyond traditional means and use resources with greater efficiency. For example, he said that the way of financing for investment has not changed notably compared with that of twenty years ago. He said that with MDBs having relatively abundant resources, the way to use them with highest possible efficiency can be the next challenge for MDBs.

He also said that several development banks are facing capital shortages, and that AIIB is working on developing and innovating new tools to provide funds for development projects, particularly on projects relate to climate change.