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Interview: AIIB makes important headway towards new source of funding for int'l projects: Austrian economist

Xinhua, March 21, 2015 Adjust font size:

Asian Infrastructure Investment Bank (AIIB) makes important headway towards a new source of funding for international projects, Karl Aiginger, Director of Austrian Institute of Economic Research (WIFO), said in an interview with Xinhua, noting he would also agree his country to join the project.

Aiginger sees the AIIB as a positive international project to stabilize world economy, saying the AIIB, like the World Bank, would be dedicated to promoting international development.

"The AIIB is an important step forward to a new source of funding for international projects," he said, noting that the more resources there are, the more will the real economy be strengthened and world economy be stabilized.

The AIIB is an international financial institution proposed by China with the purpose to provide finance to infrastructure projects in the Asian region.

The United States urged its allies to think twice before joining AIIB, however, Britain, France, Germany and Italy have announced to join the AIIB, and some other western states are expected to follow.

Regarding the differences between AIIB and the World bank, Aiginger said there is no need to focus on the differences, because "both serve peace, the reduction of poverty, and the departure from fossil fuels of the world."

"I look forward to any international funding source which promote transparent economic, social and environmental objectives," he told Xinhua. Endit