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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
