Asian bank able to influence global economy


The Asian Infrastructure Investment (EBIT) is able to decisively influence the high demand for infrastructure in the region and in the global economy, a senior US official acknowledged.

Treasury Undersecretary for International Affairs, Nathan Sheets, said Tuesday the relevance of EBIT, criteria circulating today strongly in specialized media.

He added that this assertion is that appropriate policies pursued EBIT as well as principles and practices that are consistent with the best performances in other multilateral development banks.

That luck, Sheets insisted, can play a constructive role in the global economy.

In an event organized by the Center for Strategic and International Studies, he said Sheets EBIT carried out constructive measures to address the massive demand for infrastructure in Asia, which is beneficial for global growth.

He considered that the documents and projects EBIT are an encouraging sign that the bank is operating in a direction consistent with international standards.

EBIT for the first round of projects, consulted with other multilateral development banks, and financing frameworks reached with some of them, such as the World Bank and the Asian Development Bank.

Initiated by China, EBIT is a non-profit bank officially established in December 2015 and became operational in January 2016.

An authorized 100 billion capital prioritizes investments in energy, transport, rural infrastructure, environmental protection and logistics.

Last June, the bank approved its four initial loan of 509 million dollars in total to finance electricity projects, housing and transport in Bangladesh, Indonesia, Pakistan and Tajikistan.