Follow-up - the morning
Asian Investment Bank stands in infrastructure (BAA Any B), after nearly two years on his proposal, just a few steps to start it, carrying high expectations to stimulate the economy and finance in the region.
The pace of the proposed Chinese to establish Bank (BAA Any B) a crucial step forward in the 92 last June where delegates gathered from 75 countries Foundation in Beijing to attend the signing ceremony of the agreement set the framework and management structure of the bank.
It is expected to start the bank by the end of this year if the lawmakers adopted from more than 01 countries Foundation of the Convention, and if subscribed capital of at least 05 percent of the authorized capital.
A meeting of chief negotiators in last August to discuss the candidates for the presidency of the Bank (BAA Any B), was chosen as Jane Lee Chun former deputy Chinese Finance Minister and the Secretary General of multilateral Bank Interim Secretariat (BAA Any B), chairman of the Bank (BAA Any B) by consensus. establishment and suggested Chinese President Xi Jinping in October 2013 establishment of a bank (BAA Any B) to be appropriate for all times. There is a large gap between infrastructure needs in Asia and the capacity of financial institutions the regional list, and in order to bridge that gap, the Bank will work (BAA Any B) to complement the lenders multilateral rather than compete with each other. He estimated the Asian Development Bank that Asia will need to be about 750 billion US dollars of investment in infrastructure annually until the year 2020 while the subscribed capital of the World Bank and the Asian Development Bank US $ 220 billion and 016 billion dollars respectively only. In spite of the rapid growth in the size of the economy and trade over the past decades, however, Asian countries that have seen a slowdown in their economies due to weak global demand. Investments remain in the areas of ports, railways and roads need to significantly improve in Asia, where the show is perfect as a tool to support growth. However, the developed countries have reduced their aid to developing countries after the global financial crisis, as experienced by the World Bank and the Asian Development Bank criticized in their efficiency as made it necessary to search for more sources to secure funding. In the same context, said Lu Ji Wei Chinese Finance Minister that the Bank (BAA Any B) will be compatible with existing international lenders rather than compete with them. Said Lu told Xinhua: »Historically, did not dampen the establishment of regional investment banks, including the Asian Development Bank and the European Bank for Reconstruction and Development of existing institutions, but also strengthened the presence of multilateral financial institutions and the payment of the global economy more strongly forward. Through all of the World Bank and the Bank of Asian Development for their willingness to work together with the Bank (BAA Any PE) in funding for the construction of infrastructure in the region. and will be the authorized Bank A Any My money 001 billion US dollars is expected to reach subscribed capital about 05 billion US dollars . The initial capital was relatively small, but is expected to bring additional funds.
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