China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns

//China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns

China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns

The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) will soon conduct financing activity in local currencies, in response to significant demand from member countries amid an escalating trade war between China and the United States and related uncertainties, it said on Monday.“From the second half of this year, we are going to start piloting local currency financing, in currencies such as the Indian rupee and the Indonesian rupiah, for example,” Danny Alexander, the bank’s vice…

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By | 2019-06-11T10:25:34+00:00 June 11th, 2019|Business|Comments Off on China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns