BEIJING, (PNA/Kyodo) — Chinese President Xi Jinping on Wednesday proposed the establishment of an Asian infrastructure investment bank in summit talks with Indonesian President Susilo Bambang Yudhoyono in Jakarta, China’s official Xinhua News Agency reported Thursday.
In the summit, Xi said that Beijing stands ready to offer financial support for infrastructure construction in developing countries in the region, including members of the Association of Southeast Asian Nations (ASEAN), according to Xinhua.
The new bank, he added, will cooperate with existing multilateral development banks to make full use of their respective advantages and jointly promote the sustained and stable growth of the Asian economy.