Friday, September 11, 2015

BRICS Bank Starts Cooperation with AIIB, Investment Focuses on Energy Sector

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On September 10, 2015 Summer Davos was held in Dalian China. When the new BRICS Development Bank Vice President Leslie Masiduopu was in the interview with Hexun, Leslie said the new development bank would actively cooperate with the Asian investment bank to explore new business models, in addition, the new development bank investment would focus on the energy sector.

When it comes to the relations with AIIB, the Masiduopu said AIIB was a very important institution to Asian Development Bank, it’s not been long since their establishment, but their establishment intent was similar, "We are absolutely not in competitive relations, we’ll cooperate in many respects in the future.” He said he has met with the AIIB governor Jin Liqun, the two sides would work together to find faster and more efficient ways in the future, and explore new business models.

Masiduopu also said that the new development bank had intention to invest in many areas, but would likely focus on energy, especially clean energy. He believed that the development of clean energy would bring many opportunities to the enterprises in the BRIC countries, therefore, the new development bank would give top priority to the energy investment sector. Besides, the infrastructure investment like road and railway would be carried out. Masiduopu said that the current investment did not yet start, but the new development bank has already looked for and established a number of projects. (www.chinainout.com)

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