China-backed AIIB sees role for commercial banks in project financing

The logo of Asian Infrastructure Investment Bank (AIIB) is seen at its headquarter building in Beijing January 17, 2016. REUTERS/Kim Kyung-Hoon

HONG KONG (Reuters) - The president of the China-backed Asian Infrastructure Investment Bank (AIIB) said on Wednesday he saw a role for commercial banks in financing AIIB projects via syndicated lending and underwriting.

Jin Liqun, speaking at an event organised by the Hong Kong Association of Banks, said the AIIB could also provide working capital.

“So there is a lot we can do together,” he added.

The AIIB, which was launched this year, has become one of China’s biggest foreign policy successes. Headquartered in Beijing, it has an authorised capital of $100 billion (71 billion pounds), and has 57 founding members.

Jin said the AIIB’s staffing could reach 4,000, in line with the World Bank, but wanted to stay lean as possible.

Reporting by Michelle Price; Editing by Denny Thomas and Mark Potter