European Parliament president welcomes AIIB
- By Li Shen
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E-mail China.org.cn, March 18, 2015
European Parliament President Martin Schulz Wednesday welcomed the Asia Infrastructure Investment Bank (AIIB) initiated by China, saying both China and the EU want to develop more ambitious global financial governance.
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European Parliament President Martin Schulz gives a lecture to a group of local scholars, media and ambassadors from EU member countries and delegations in Chinese Academy of Social Sciences in Beijing, March 18, 2015. [Photo: provided to China.org.cn] |
In a lecture addressing a group of local scholars, media and ambassadors from EU member countries and delegations in Beijing, Schulz said that China is creating new instruments of cooperation, such as the AIIB and the BRICS Development Bank. "Let's all assure that the new institutions conform to the highest of international standards," he added.
Beijing proposed the US$50 billion multilateral development bank last year to provide finance to transportation, telecommunication, energy and other infrastructure projects in the Asia-Pacific region. It is regarded by some as a potential rival to Western-dominated financial institutions, such as the International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB).
Britain announced that it was applying to become a founding member of AIIB last Friday. France, Italy and Germany Tuesday followed the U.K. by confirming their intention to become founding members.
Schulz expressed his agreement with EU nations to join AIIB at a press conference held in Beijing on Tuesday after he met with Chinese President Xi Jinping and other top leaders. "I find it good that they [want to] join. If more member states would join I would find it even better," he said, reported by China Radio International.
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