Iran’s Minister of Economy and Finance Ali Tayebnia and Chinese Finance Minister, Lou Jiwei, in Beijing on Monday exchanged views on expansion of commercial and economic cooperation and relations between their respective countries.
Talking to reporters after meeting with the Chinese counterpart, Tayebnia said the two sides had placed emphasis on mutual cooperation in various economic fields.
He underlined the important role of the Bank in financing infrastructural projects in Asian states and said the development projects of the bank will be to the benefit of many Asian states in the future.
The Minister said the Bank can serve as a good complementary body and not a rival for activities of other economic banks worldwide.
The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.
AIIB will be financing member countries or agencies, entities or enterprises in member territories as well as international or regional agencies or entities concerned with the economic development in Asia. The Bank could also be authorized to provide financing to recipients located outside Asia that contribute to the economic development of the region.
The bank, which will be headquartered in Beijing, is expected to be officially established at the end of 2015, after the agreement signed this morning has been legally adopted by the individual founding member states.
Iran joined the Asian Infrastructure Investment Bank (AIIB) as the 4th member.
Source: IRNA- Date: (30 June 2015)