Sat, 21 May 2022

© Provided by Xinhua

As a banker promoting infrastructure development, Jin said he welcomes any other initiative from whichever government or country, but "what is important is that we need to work together for better cooperation."

AIIB has tried its very best to make sure that projects under the Belt and Road Initiative will be implemented with high standards, said Jin.

"Normally, people say no strings attached to refer to no political strings attached. But we have to make sure that the projects we finance meet the environmental and social standards. And if you call these strings, I say yes, there are strings attached."

AIIB has an independent department named as the Complaints-resolution, Evaluation and Integrity Unit, which is responsible for the implementation of projects, according to Jin.

"So far, we have not had any major problems in implementation of the projects, we have not had any complaints against corruption," said Jin.

Besides infrastructure projects, AIIB also gives loans to projects related to climate change and response to the COVID-19 pandemic.

AIIB allocated 13 billion dollars to COVID-19 Crisis Recovery Facility to help its members navigate crises arising from COVID-19, and most of the funds were invested together with other multilateral development banks, according to Jin.

AIIB is aligning its policies and strategies with the Paris Agreement and is expected to accumulate 50 billion dollars of climate finance approvals by 2030, according to Jin.

"Never ever has multilateralism been so critical for our common destiny. Never ever has the need for a multilateral approach to solve the humanity's formidable challenges been so acute. The Asian Infrastructure Investment Bank was created as a direct response to a genuine desire among countries for greater, not less international cooperation," said Jin.

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