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Brazilian media pay close attention to launch of AIIB

Xinhua, January 17, 2016 Adjust font size:

The official launch of the Asian Infrastructure Investment Bank (AIIB) in Beijing on Saturday prompted warm response from media organizations in Brazil, the only Latin American country among the bank's 57 founding members.

Brazilian daily O Globo noted that despite Washington's opposition, many of its allies including Australia, Britain, Germany, Italy, the Philippines and South Korea agreed to join the new multilateral financial institution, and they made the decision because of China's growing economic influence.

With the bank opening for business, Beijing will be able to further expand its influence throughout the world, it added.

Meanwhile, business publication Exame focused on the benefits that the AIIB would bring to developing countries, noting that China had pledged that 50 million U.S. dollars would be used to create a special fund to support infrastructure project preparations for the less developed countries.

The AIIB would be one of the main tools China uses to advance its "Belt and Road" initiative, according to the Exame. Endi