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.
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
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.
