New China-led bank 'will be inclusive'

Updated: 2016-01-29 07:52

By Fu Jing(China Daily Europe)

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Emphasizing his concept of keeping AIIB being "lean, clean and green", Jin says the bank is determined to cut red tape and reduce bureaucracy.

Unlike the World Bank or the Asian Development Bank, which sometimes set up offices in countries where they are involved, the AIIB will borrow from the experience of the private sector and assign experts and staff for each project.

New China-led bank 'will be inclusive'

"When there are projects in a country, we send our staff; and when the projects finish, we leave."

When the number of projects increases in a region or country, Jin says it is likely the bank will set up a regional hub or liaison office. "But we will avoid duplication between headquarters and regional hubs in decision-making."

Jin also stresses that the institution will have zero tolerance toward corruption, even with some doubting whether it is possible to achieve that in a China-led multilateral development bank.

According to him, one Western stereotype goes this way: If there is corruption in other institutions, they say, "well, it happens". And if it happens in a China-led institution, they say, "I told you so".

Jin says not everybody or every organization is corrupt.

For example, he says, after his stint in the Work Bank in the 1990s, he started to supervise $50 billion worth of projects financed by the World Bank and the ADB.

"There was not a single case of corruption when I was in charge of those projects. First of all, I myself must be clean and then I can ask others to follow."

( China Daily European Weekly 01/29/2016 page32)

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