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.