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China’s Finance Minister: BRICS Bank, AIIB Supplement Each Other

21.07.2015 17:25

China’s Finance Minister Lou Jiwei said Tuesday the BRICS New Development Bank (NDB) and the Beijing-led Asian Infrastructure Investments Bank (AIIB) are mutually complementary and will boost cooperation to promote global and regional infrastructure development. 

"As for relations between the BRICS New Development Bank and the Asian Infrastructure Investment Bank, it should be noted that the founding of these two institutions is an important measure taken by emerging economies to stimulate global infrastructure construction and reform the international system of economic management," the minister said during a press conference.

He also added the two banks will share their experiences, and afterward they will strengthen bilateral cooperation. "The BRICS New Development Bank and AIIB supplement each other… Both of them will jointly stimulate infrastructure construction in Asia and around the world as well as contribute to international and regional development," Lou Jiwei said.