AIIB to have zero tolerance for corruption: official

Want China Times, Xinhua 2015-03-24

China's vice finance minister Jin Liqun speaks during the 16th China Development
Forum at the Diaoyutai State Guesthouse in Beijing, March 22. (Photo/Xinhua)

The Asian Infrastructure Investment Bank (AIIB) will maintain a zero-tolerance stance against corruption, said Jin Liqun, secretary general of the interim multilateral secretariat of the China-proposed institution, on Sunday.

Meanwhile, the AIIB will work to boost green and low-carbon economy, Jin said at the ongoing China Development Forum.

The bank will have more than 35 prospective founding members by the end of this month, the deadline for such application, he said.

China proposed to build the AIIB to meet the huge funding demand in infrastructure sector in Asia, and China will boost cooperation in Asia through shouldering more responsibilities, he said.

The AIIB aims to become an international financial institution providing support to infrastructure projects in Asia, and is expected to be established before the end of this year.

The bank has had 27 prospective founding members. Britain, France, Germany, Italy, Luxembourg and Switzerland have recently applied to join the AIIB as founding members. Once approved, the number of prospective founding members will reach 33.