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    • ADB annual meeting

    Friend or foe? ADB and a future China-led development bank

    ADB's annual meeting wrapped up on Monday, with China's proposal to set up a regional infrastructure development bank as one of the main buzz topics. An analysis by Devex reporter Lean Santos.

    By Lean Alfred Santos // 06 May 2014

    When Asian Development Bank President Takehiko Nakao took to the stage at the opening press conference of the bank’s annual meeting in Astana, Kazakhstan last Friday, the first question was about China’s plans to set up a regional infrastructure development bank, and if ADB would view that new organization as a partner or a competitor.

    So would this (still potential) Chinese-led international financial institution threaten ADB’s leading role in Asia-Pacific’s development?

    Nakao’s reply, of course, was in line with the bank’s official position on the issue — which Devex previously reported: ADB welcomes not only this idea but also a future BRICS bank as partners in the region.

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    About the author

    • Lean Alfred Santos

      Lean Alfred Santos@DevexLeanAS

      Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.

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