The bank will look to multilateral development institutions and avoid their shortcomings, Jin says.

"We do not have a permanent board of directors, and the board's duties are clearly separated from those of other management departments. This is what several multilateral financial institutions would like, but they find it difficult to change because of structures that have been in place for many years. Also, because we won't have local offices, we will be able to keep a lid on costs."

The bank will have universal recruitment and universal procurement, Jin says, adding it will appoint management no matter "whether they are from the founding member states" or "which countries' passports they hold".

The bank will work with more than just governments and governmental bodies, he says.

"We are willing to work with anybody, on the condition that these companies ... have a very good reputation."

He cited tobacco companies as the kind of commercial operation that the bank would not work with.

Britain attracted global attention in March by announcing that it would join the bank as a founding member, and many other countries followed suit.

Jin says he was "delighted the UK made the first move" and he praising the "vision" of its decision. A prosperous Asia would benefit other countries, he says.

In the United States and Japan, Britain's announcement was met with dismay, and the two have declined to join so far.

Jin said at the conference that he understands the concerns of some countries and that "the door stays open for any country to join, as long as they accept the articles of agreement worked out by the 57 founding members".

Taiwan's decision to join the bank was "a domestic affair", he said, adding that "family members" can discuss it, and it needs no intervention from others.

Jin said that 10 minutes before the deadline for applications to join the bank at midnight on March 31, they were still coming in. More than 30 countries that missed the deadline are on a waiting list to join.

Some member countries, which Jin referred to as "sleeping beauties", have yet to ratify the articles of the AIIB agreement, and this is unlikely to be done before the end of next year.

"But this won't affect the bank's target to become operational by the end of this year."

The bank can "invest in any country," he said, giving as an example the funding of irrigation projects in Australia that could improve food security for Asia.

Lending to countries such as Egypt, the first African state to join the bank, "shouldn't be any problem", he said.

Contact the writers through zhangchunyan@chinadaily.com.cn