Asia development banks share goals

At ADB annual meeting, chief sees no need to vie with AIIB

Asia has a great demand for infrastructure funding, and both the Asian Development Bank and the new Asian Infrastructure Investment Bank can cooperate with each other to provide that capital, ADB President Takehiko Nakao said on Thursday.

Speaking at a news conference in Yokohama, Japan, to kick off his bank's annual meeting, Nakao said: "We can complement each other. The financing needs are so large, so we don't need to regard the AIIB as a kind of a rival in that regard. We can cooperate."