ADB president says to work with AIIB

The opening ceremony of the China-led Asian Infrastructure Investment Bank is scheduled to kick off in Beijing on January 16th. Prior to this event the president of the Asian Development Bank, Takehiko Nakao, held a press conference, where he said the two institutions will have ample room to work together.

Nakao said the ADB predicts that the Chinese economy will grow by 6.7 percent in 2016. Although the speed has slowed, it is still impressive among developing economies. The agency also predicted that the Asian region could have an 8 trillion US dollar demand for infrastructure funding from 2010 to 2020. That calls for the ADB and the AIIB to work closely together.