SINGAPORE: Indonesia is seeking the first loan from the Asian Infrastructure Investment Bank (AIIB), as the China-led institution vies with the World Bank to fund projects in South-East Asia.
The AIIB’s funding approvals will be faster than the World Bank and so it may put pressure on other multilateral lenders, Luky Eko Wuryanto, a deputy minister at Indonesia’s coordinating economic ministry, told a conference in Singapore yesterday. Competition for the first loan will come from the Philippines, Vietnam and India, he said.
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