"...Compared with the Asian Development Bank, World Bank and other multilateral development banks, the AIIB's advantage lies in its keener understanding of the successful experience and lessons of developing countries' years of development. "The AIIB needs to establish its comparative advantage relative to existing multilateral development banks like the World Bank," Lou said. "The question is, how do you define international best practice? "So our bank would like to have the development experience, the so-called international best practice, reflecting the experience of China, India (and) so many countries in Asia. I will not agree to anything which could be considered international best practice unless this kind best practice incorporates the development experience of China and many countries in Asia and elsewhere over the last three or four decades," Jin said.

Source: Economic Times June 26, 2016 05:37 UTC